DED grants emergency CDBG to Phelps County to buyout flood-damaged properties

JEFFERSON CITY – February 06, 2009 – (RealEstateRama) — The Missouri Department of Economic Development (DED) today announced that Phelps County has been approved for a $34,234 emergency Community Development Block Grant (CDBG). The grant will be utilized to match FEMA funding that will assist with the acquisition of two flood-damaged properties.

The project will include acquiring two flood-damaged properties, demolishing the structures and seeding/strawing the lots after demolition. The county is requesting the funds to cover project-related expenses such as closing costs, asbestos inspections and demolition activities.

The project area is adjacent to the Gasconade River.

The CDBG program, administered by the Missouri Department of Economic Development, provides grants and loan funds to cities with a population under 50,000 and counties under 200,000 to assist in a variety of public works and economic development projects.