Rebuild Iowa OfficeHere’s an update from the Rebuild Iowa Office:

Funds for residents and governments in Iowa impacted by this year’s storms, tornadoes and flooding continue to increase. This week, Iowa received additional funding in the Public Assistance category. Also, the state has so far received a total of $25 million from the Emergency Watershed Program and a total of $30 million from the Emergency Conservation Program, making the total U.S. Dept. of Agriculture Funds category $55 million (see below).

More than 39,800 Iowans have registered with FEMA for disaster assistance and more than 35,000 Iowans have visited FEMA Disaster Recovery Centers around the state. Of the 85 Iowa counties eligible for federal assistance, 77 are eligible for both individual assistance and public assistance.

Below are the sources that make up the more than $1.3 billion in funding:

· $487 Million State/FEMA Public Assistance

· $251 Million U.S Small Business Administration Loans

· $134 Million State/FEMA Housing Assistance and Other Needs Assistance

· $85 Million 1st Round CDBG Disaster Funds

· $72 Million 2nd Round CDBG Disaster Funds

· $125 Million 3rd Round CDBG Disaster Funds

· $40 Million Start-up Funding for Jumpstart Iowa Housing and Business

· $37 Million Executive Council Action

· $25 Million Iowa Finance Authority tax credits

· $23 Million U.S. Department of Transportation Funds

· $18 Million Labor/Jobs Assistance

· $55 Million U.S. Department of Agriculture Funds

· $4 Million Economic Development/Transportation funds

· $4 Million RSP/ISP Crisis Counseling Grant

· $6.2 Million Disaster Unemployment Assistance

· $500,000 College Assistance to Families

 

JUMPSTART IOWA UPDATE

Of the more than $1.3 billion in funding, $85 million will be used for the Jumpstart Iowa Initiative. Jumpstart Iowa is a state housing and small business recovery initiative, announced by Governor Culver on Sept. 12. The state’s housing and small business assistance plan brings assistance to Iowans still feeling the effects of this year’s natural disaster. The initial allocations were released to the councils of government and entitlement cities on Sept. 26, with checks flowing to individual Iowans days later. The Jumpstart Iowa Initiative is designed to allow homeowners and businesses to apply for forgivable loans to assist in business rebuilding, home repair and purchase, and interim-mortgage assistance. Below are the latest available figures for the Jumpstart Housing and Small Business Assistance programs statewide:

Jumpstart Housing Update (as of Dec. 11, 2008):

Total number of applicants: 3,663
Total amount requested in those applications: $45.3 million
Total number of applicants approved to-date: 879
Total amount obligated: $16.7 million
Total amount disbursed: $8.7 million
Average award: $19,010
Applications ineligible for the program: 279 (8 percent of total applicants)

Jumpstart Small Business Update (as of Dec. 11, 2008):

Total number of applicants: 736*
Total amount requested in those applications: $96.4 million
Total number of applicants approved to-date: 481
Total amount obligated: $16.3 million
Total amount disbursed: $8.1 million
Average award: $33,958
Applications ineligible for the program: 109 (15 percent of total applicants)

*Decreased number from last week due to duplication of records being removed from the system

Iowans can learn more about the program and how to apply for financial assistance by visiting the Jumpstart Iowa Web site at www.jumpstart.iowa.gov or by calling the toll-free number 1-866-849-0323.

For more information about the state’s recovery and rebuilding efforts, please visit the Rebuild Iowa Web site at www.rio.iowa.gov.