Good news tonight for flood recovery. $85 million is coming to help fill in some big gaps for landlords and business owners.

Governor Culver announced four new programs today in downtown Cedar Rapids. He says they come after feedback from the many impacted people still pleading for help.

Here is how the governors office described the new programs.

Business Rental Assistance Program:
This program is for businesses remaining in or locating in rental space that was physically damaged by the 2008 natural disasters. Initially, this program allowed business owners up to $50,000 to help offset building rental lease payments for a maximum of six months. Now in addition to rental payments, recipients will be allowed to use the $50,000 for expenses associated with replacing damaged machinery, office furniture, supplies and other equipment. The maximum award a business can receive through this program is $50,000.

Loan Interest Expense Program:
The continued existence of many businesses is threatened by the expense of new debt acquired as a result of the disasters. This program provides funds to business owners to pay for the interest on an SBA or private loan for disaster recovery. Up to a total of $50,000 in funds will be provided to a business, for a maximum of three (3) years.

Commercial Rental Income Gap Program:
This program is designed to assist with cash flow for commercial building owners to offset lost revenue from vacant rental space that was physically damaged by the disaster. A maximum of $25,000 for lost rent will be reimbursed to commercial landlords per unit.

Residential Landlord Business Support Program:
This program is designed to compensate disaster-impacted residential landlords providing affordable housing for lost rental income. Landlords may receive up to $15,000 per business impacted by the disaster. $85 Million Coming for Flood Recovery