Spencer, IA (Northwestiowanow.com) — The Spencer City Council has decided to take extra income generated by the flood at the city-owned landfill, and direct it to the property buy-back program. Public Works Director Mark White says there will STILL be surplus money after transferring 1.25 million dollars, and Finance Director Barb Smith reassured officials the procedure is legal under state accounting laws.

 

The city council approved the transfer unanimously.
The city is purchasing 13 of 15 properties that were rejected under the FEMA buyout plan. Two others had already been sold.
The city will demolish the derelict structures and hopes to sell the land to developers who will construct new homes or apartments that are more flood-resistant than those they are replacing.