Story Created:
Jul 4, 2008 at 2:57 PM CST
Story Updated:
Jul 14, 2008 at 12:00 PM CST
IOWA CITY - A flood ravaged neighborhood has to band together to decide what is best for everyone. Nearly 100 home owners in one Iowa City neighborhood are waiting to hear what options they have for their flooded homes. But the property owners cannot act independently. The Idylwild Neighborhood has a condo association meaning majority rules on the future of the property.
As Jack Newman looks over his condo with a FEMA agent he cannot help but wonder what will happen after the holiday weekend. Newman said, "The meeting on Monday. What do we do now?"
The meeting is with the entire condo association, 86 home owners. Together, they have to decide the future of the Idylwild Neighborhood. Newman said, "I think it's unanimous we'd like a buyout."
At the last association meeting, it was nearly unanimous to spend $2 million to hire a cleaning company for the entire neighborhood. Monday's meeting will discuss the status of FEMA buyout plans by the city council and possible reconstruction plans. Idylwild resident Harvey Miller said, "When you get 90 people making decisions it's very difficult to make a decision."
There is a lot of uncertainty going into Monday's meeting. But if there is one thing the homeowners can band together with it is that nearly every home suffered significant damage.
Miller said, “Extensive damage. I think there's more than 51-percent damage on each of the units I've looked at anyhow."
People are looking for a majority, whether it's in damage to homes or in the number of neighbors wanting what they want. Agreeing to a buyout could be the easy part. The way to get there and what happens next might be the most difficult. One resident says that the Iowa City Assistant City Manager told the condo association it can take three years before the buyout is complete. That means people would pay a mortgage for property they cannot use.
Email Steve Nicoles at Steve.Nicoles@kcrg.com