Cedar Rapids flood costs tops $1 billion
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By The Associated Press | Thursday, July 10, 2008 |
CEDAR RAPIDS, Iowa — The estimated cost of last month’s historic flooding in Cedar Rapids now stands at over $1 billion — and counting.
City officials say it will cost over $500 million to clean up and repair the city, plus another $810 million to protect the city against future flooding, which could include levees, floodwalls, a possible reservoir and property buyouts.
City Manager Jim Prosser told the City Council Wednesday night that says the city needs immediate help from the federal government, and will seek such aid.
City Financial Director Casey Drew says the city also will ask the Iowa Legislature for ways to raise money other than property taxes.
Floodwaters covered about 1,300 city blocks.
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