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Thursday, October 30, 2008

Governor Culver Presents Jumpstart Iowa Checks In Coralville, Waterloo

Funds delivered to local families and business owners

DES MOINES – Today, Governor Chet Culver traveled to eastern Iowa where he delivered Jumpstart Iowa checks to local small business and home owners whose property was damaged by this year’s historic flooding and severe weather.

“The Jumpstart Iowa Program was created last month to help Iowans who are still feeling the effects of this year’s historic natural disasters get back on their feet,” said Governor Culver.  “Just like these individuals, there are many Iowans who can benefit from this program.  If you are a home or business owner with flood damage, there is assistance available and we are here to help!”

In Coralville, Governor Culver presented checks to two local businesses.  The first went to Doug Parsons, the owner of Frohwein’s Office Supply, who received a check for $50,000.  The second check, which also totaled $50,000, was presented to Lee Staak, the franchise owner of the local Hardee’s Restaurant. Both businesses were damaged as a result of extensive flooding in the Coralville business district.

Later in the day, the Governor traveled to the Sans Souci Drive neighborhood in Waterloo, where he joined with Representative Bruce Braley to award $42,697 from Jumpstart Iowa to Shane and Katy Hackett and $26,644 to Linda Sharp and Marilynn Pierce. These homeowners will use the funds to assist with down payments on new homes and interim mortgage assistance.

Jumpstart Iowa began as a $40 million state housing and business recovery initiative, announced by Governor Culver on September 12th.  In the days following, the Governor and Lt. Governor worked with various state boards and agencies to approve emergency rules enacting the Jumpstart Program. The initial allocations were released to the Councils of Government and Entitlement cities on September 26th, with the first funds being made available to individuals within several days.

Since that time, Governor Culver has announced an additional $45 million in federal community development block grant dollars which will be used to continue the Jumpstart Iowa program.  A listing of the total allocation of both state and federal dollars for the Jumpstart Iowa program is attached.

“Jumpstart Iowa went from being an idea to putting funds into the hands of Iowans in need in less than a month, but I am not going to rest until every homeowner, business and community has recovered and rebuilt from this year’s floods and tornadoes,” added Governor Culver.

The Jumpstart Iowa Initiative is designed to allow homeowners and businesses to apply for forgivable loans to assist in business rebuilding, home repair and purchase, and mortgage assistance.  

Applications are currently being taken. Iowans whose homes or businesses have been affected by the floods are encouraged to call 1-866-849-0323, or to visit jumpstart.iowa.gov to apply.

In addition, today, Governor Culver highlighted the more than $1 billion in disaster aid that has been received by Iowans to aid in disaster assistance.  A listing of those dollars is attached.