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Governor Culver signs Senate file 457 to assist disaster-affected cities and counties |
| Posted: May 13, 2009 |
DES MOINES – Governor Chet Culver today signed into law Senate File 457, a bill which gives cities and counties facing disaster-recovery efforts additional financing options.
"Today, we take another step forward in our state's disaster recovery efforts," said Governor Culver. "With so many communities still working to recover from last year's historic natural disasters, now communities have a new tool to meet our ongoing challenges. As Governor, I will continue to do everything I can to rebuild our communities, and I look forward to working with all Iowans to build a stronger, safer future."
The bill will allow disaster-affected communities new flexibility in financing options, including changes to local bonding authority and contract letting requirements, which allow them to more quickly rebuild.
The bill also authorizes, but does not require, cities and counties to designate a disaster-affected area as a Disaster Revitalization Area, creating tax incentives for neighborhood rebuilding. Another point in the bill addresses disaster recovery housing project tax credits. These credits are available only for disaster-impacted properties in last summer’s presidentially-declared disaster areas.
Another provision in this bill legalizes city and county expenditures caused by last summer’s natural disasters. Senate File 457 authorizes disaster recovery housing project tax credits, not to exceed $3 million per year for five years, for eligible properties affected by the 2008 disasters.
The bill is one of many created as a result of 12 recommendations made by members of the Rebuild Iowa Advisory Commission (RIAC) in response to the 2008 storms, tornadoes and flooding. The Commission recommended that the state should identify, create and sustain funding options and provide flexibility for local and state governments to assist in rebuilding. Also, the Commission recommended that state and local governments place a high priority on ensuring availability of adequate, affordable housing and the ability of individuals and families to rent or purchase those homes.
Governor's Executive Order Seven established the Rebuild Iowa Advisory Commission on June 27 following the storms, tornadoes and flooding of 2008. The RIAC is a 15-person, bipartisan commission whose members chaired nine task forces focused on specific issues that developed further recommendations to support the state’s strategic recovery and rebuilding process.
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