The Cedar Rapids City Council created the Rental Rehabilitation Program to rehabilitate residential rental properties damaged by the Flood of 2008. The council allocated up to $25 million in Local Option Sales Tax funds to rehabilitate an estimated 600 units of quality rental housing, including assistance for 214 participants in the existing state Jumpstart Rental Rehabilitation program. Only flood-related expenditures are eligible for reimbursement.
To be eligible, applicants must meet all of the following criteria:
- A residential rental property owner (individual; for-profit entities; and non-profit entities)
- Rental property owners must have been the owner of record of the property (or properties) for which funding is sought prior to June 13, 2008, the date of the disaster. For the purposes of this program, Contract Deed Holders will be considered owners of the property if the property has reverted to their control through a lawful proceeding. However, the contract deed holder must be the same pre- and post-flood to be considered eligible.
- Common ownership must have been in place both pre-disaster and active post-disaster.
- The activity is available only to rental property owners whose properties were physically damaged in the Floods of 2008. Damage caused by sanitary or storm sewer back up is eligible, unless otherwise covered under homeowner insurance.
- Current Jumpstart Residential Landlord program participants are eligible for the difference between their total eligible awards in both programs. Once participants in the Jumpstart program have accepted payment from the Jumpstart program, they are only eligible for the differential award from the Local Option Sales Tax, regardless if the Jumpstart funds are repaid.
To be eligible, applicant’s rental properties must meet all of the following criteria:
- In order to be eligible for assistance, the rental property owner must be able to demonstrate and document that their property was physically damaged by a disaster event. This might include, but is not limed to: insurance claims documentation, inspection reports (city, insurance claims representative, A/E, etc.).
- Rental property is not located within the 100-year floodplain or Construction/Study Area - both as defined by March 23, 2010, the date of the program’s creation.
- Rental property was registered with the City of Cedar Rapids as a rental property prior to the date of the disaster (June 13, 2008).
Please complete the online application or downloadable application for this program. For more information about the Rental Rehabilitation Program, please contact ProSource Technologies at 1-888-422-4449.
Funding Award Determination
The maximum eligible award is up to 60% of the pre-flood assessed value of the rental property as determined by the City of Cedar Rapids Assessor or $30,000 per unit, whichever is greater. In the instance of multiple unit structures (including condominiums), the eligibility will be limited to no more than 10 units within the structure.