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CEDAR RAPIDS, Iowa (AP) - Cedar Rapids has thousands of dollars to share with people who want to move back into flood-damaged neighborhoods or are interested in moving into town.

Mayor Ron Corbett says that the deal would be worth upward of $35,000 to income-qualified buyers.

According to The Gazette, Corbett said Thursday that the incentive is needed to help bring people back to some of the city's core neighborhoods, which are still recovering from the June 2008 flooding.

The incentives include a 25 percent down payment and a free lot for houses that would range in price from $135,000 to $150,000.

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The lots have been acquired by the city as it buys and razes flood-damaged homes.

The down payment aid is funded by federal disaster dollars.

 

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