HomeMy WebLinkAboutFloodUpdate PowerPoint2008 Flood Event
Update
Jumpstart Iowa
Homeowner Assistance Program
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Small Business Assistance Program
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Applications available beginning
Tuesday, October 7 at:
City Hall Flood Recovery Center
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Online at www.icgov.org/recovery
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Local delivery available upon request
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Resources
Application Assistance available Tuesday,
October 7 thru Tuesday, October 14 at:
Flood Recovery Center, Lobby Conference
Room, City Hall –8-6 Mon-Fri & 10-2 Sat
Flood Recovery Hotline –356-5479 (8-5, M-F)
E-mail: recovery@iowa-city.org
Updates at: www.icgov.org/recovery
Timeline: Homeowner program applications
are due October 14. Small Business
program applications due November 7.
Hazard Mitigation
Grant Program
(HMGP)
Benefit/Cost
Analysis Waiver
Benefit Cost Analysis
•Risk based assessment
•Largest factor: Elevation of the first floor
compared to the 10, 50, 100, and 500 year
floodplain elevations
•Also accounts for home value, contents
damage and displacement costs
•Calculates a Benefit Cost Ratio (BCR)
Benefit Cost Ratio
•Benefit Cost Ratio (BCR)= Total Project
Benefits ÷Total Project Costs
•BCR =1.00 to be eligible
•One property obtained a BCR of 2.56
•Idyllwild neighborhood: 0.02 –0.06
•Taft Speedway: 0.17 –0.19
•Parkview Terrace: 0.01 –0.36
Local Hazard
Mitigation Plan
Supplemental CDBG
Overall Flood Hazard
Mitigation Strategy
Conclusion—
Decision Points
Do you concur with staff’s
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recommendation for guidelines for the
small business assistance program?
Do you concur that the HMGP grant
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application should be limited to those
properties that meet the benefit/cost
threshold or receive the BCA Waiver?
The HMGP is strictly voluntary. Do you
•
concur that such properties be included
on the buyout grant application that meets
the benefit/cost requirement or waiver
criteria, even if the property owner states
they are not interested in buyout funds?
Do you agree that HMGP eligible
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properties that do not receive funding
from the State and non-HMGP eligible
properties that fill in a gap between HMGP
eligible properties should be funded
through supplemental CDBG buyout
funds?
Do you concur that properties included in
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the HMGP application should not be
granted Jumpstart housing rehabilitation
funds even if they do not want to
participate in the buyout program?
Do you concur with the percentage splits
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that are proposed between the three
Jumpstart programs (80% for rehab, 10%
for interim mortgage assistance, 10% for
down payment assistance)?
Shall the rehab program be limited to
winterizing, plumbing, electrical, and
mechanical systems?
Shall flood insurance be required for
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properties receiving Jumpstart or CDBG
funding?
Shall CDBG eligibility guidelines be
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followed for the Jumpstart program?
Do you concur with staff’s
•
recommendation for guidelines for the
small business assistance program?