Des Moines spends $10.5M to buy 78 flood-damaged homes

DES MOINES, Iowa (AP) — The city has spent about $10.5 million to buy 78 homes damaged by June’s flash flooding in Des Moines.

The Des Moines Register reports that most of the residences are situated along Fourmile Creek in northeast Des Moines, the area hardest hit. Demolition began this week.

The city used money generated from stormwater utility fees rather than relying on state or federal sources, which can slow the process. City officials have said buying the most flood-prone properties and demolishing the homes reduces the chances of more damage or resident injuries in the future.

The average purchase price of the 78 homes was more than $136,000. The city offers were up to 110 percent of the homes’ assessed values.

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Information from: The Des Moines Register, http://www.desmoinesregister.com

Associated Press

Associated Press

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