Iowa town begins flood buyouts

Associated Press - December 4, 2009 8:04 AM ET

CEDAR RAPIDS, Iowa (AP) - The city of Cedar Rapids has sent out its first buyout letters to homes closest to the Cedar River that flooded last year.

The city sent 55 buyout letters this week to residents who say they want their properties bought by FEMA and converted into a green space.

The city says about 1,300 properties in the city chose to take the buyout.

Cedar Rapids real estate officer Rita Rasmussen says the letter begins the closing process of the house. Residents can back out at any time.

The city says ten properties in the proposed green space have not taken the buyout.

Resident Dan Miller says the letter doesn't tell residents they could get less than the city is offering because of deductions for state financial assistance.

Information from: The Gazette, http://www.gazetteonline.com/