New disaster assistance for businesses and landlords

Two Iowans who lost their homes in last year's floods visited with Senator Daryl Beall at the Iowa Statehouse during the 09 session to ask that housing assistance be the top priority of a disaster relief package.

Four disaster assistance programs will be available in December to small businesses and landlords impacted by the 2008 storms and floods.

The Business Rental Assistance Program initially provided business owners up to $50,000 for rental payments for up to six months. Recipients can now also use the money to replace damaged machinery, office furniture, supplies and other equipment.

The Loan Interest Expense Program helps business owners pay the interest on a loan for disaster recovery. Up to $50,000 will be provided to a business, for a maximum of three years.

The Commercial Rental Income Gap Program reimburses commercial landlords up to $25,000 for lost rent on units that were physically damaged by disaster.

Under the Residential Landlord Business Support Program, landlords who provide affordable housing may receive up to $15,000 per business impacted by the disaster to help make up for lost rental income.

Funding comes from the Community Development Block Grant that Iowa has received from the U.S. Department of Housing and Urban Development. For complete details and where to apply, call the Rebuild Iowa Office at 515-242-5004 or go to http://www.rio.iowa.gov/news/releases/2009/111209_press_conference.html.