Iowa
Waterloo will receive $2 million in BEDI funds and $8.75
million in Section 108 loan funds to finance brownfields redevelopment,
riverwalk improvements and affordable housing, as part of the Cedar
Valley Riverfront Renaissance initiative. The BEDI funds will be
used to finance the Riverwalk Loop project, as well as site clearance
activities at brownfield sites in the East River District. BEDI
funds will also be used to provide homebuyer assistance to low-
and moderate-income families in the Cedar River neighborhood. The
Section 108 loan will be used to finance the acquisition of brownfield
properties and for other site improvements needed for the Cedar
River Plaza and other facilities and venues included in the initiative.
The City estimates the creation of more than 580 jobs as a result
of these investments and total project costs are estimated to at
more than $72.5 million.
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