Flood cost Cedar Rapids businesses could reach ‘tens of millions’
But while the damage from the 2008 flood was immediately visible, with buildings inundated with water, its 2016 successor hasn't left area businesses and not-for-profits unscathed.
While city officials still are collecting data through one-on-one interviews and a survey to find out the economic impact of the flood, many believe that cost to be considerable.
"I think it's certainly safe to say it's going to be in the tens of millions (of dollars)," said Jasmine Almoyaed,
A final report, with a complete economic impact estimate, should be completed by early next year, she said.
"We were on track to have the best year to date for the restaurant, and at this point I think we're just trying to get our feet back on the ground and keep our heads above water," Kane said. "We probably lost the better part of 10 to 15 percent of our annual revenue."
Bata's is one of 95 small businesses that have applied for an estimated
The grant program, the
Applicants must be for-profit businesses, have 50 or fewer employees and be located within the flood's 28-foot elevation evacuation area declared by the city.
Approved applicants can receive up to
Grants have averaged
Fewer than 10 applications have been denied for not meeting requirements, Neumann added.
Kane said Bata's received the maximum
Almoyaed noted the grant fund is meant to aid businesses, not cover all losses.
"We're certainly not trying to make this a windfall for anybody," she said.
In 2008, businesses closed, structures were inundated with water and buildings were later gutted for repairs, so the damage was evident. This year was different, said
"I think it's been different than raising money in 2008 because the damage is not immediately visible -- it was the cost of moving out and moving back in, it was the cost of lost merchandise or goods, it was in not being able to pay your employees," Garner said. "Those are not things that are visible when you walk down the street in the evacuation zone."
To assist in raising funds for the grant program,
GCRCF also has created a 2016
Garner said close to 25 area not-for-profits incurred costs from the flood.
In addition to businesses, communities in 19
In
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