The Good, the Bad and the Ugly...
We see it on Wall Street,
We see it making it's way on Main street...
The Floods of 2008 will impact the community of Cedar Rapids for year's to come. The impact on Housing Stock in the old town is significant. We know that low income housing will get some relief.
Landlords are significantly impacted. They are small businesses, but most incentive based programs by the State of Iowa (aka Jumpstart) and the Federal government don't focus on that local landlord who owns a rental house or two, impacted by the flood. In many cases, we are talking about the loss of single family housing stock in our community.
The push for multi-family housing and high density housing to replace some of the single family housing impacted by the Flood is the talk of the town. In many respects, high density housing was the talk of the town before the Flood.
The Federal government is providing incentives for housing developers. But, what about your neighbor's rental property they have in Cedar Rapids? Who is looking out for them or providing help?
Finally, the Crowne Plaza Hotel appears to be headed for foreclosure. As The Gazette headline suggests: Foreclosure seen as hopeful sign for Crowne Plaza... but, will that be true? Clearly there are problems present, when foreclosure is suggested as a "hopeful sign" in improving a poor situation.
peace
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