I had flood damage when the hurricane passed by last year and the basement became moldy. It was always a little damp, especially as the house got older. But the storm turned it into a "mold growing machine".
The old wall coverings and ceiling tiles had to be removed. Then the contractor scrubbed the walls with bleach to kill the mold. Three coats of waterproof paint will cover the cinder blocks. I'm lucky my wife insisted on getting flood insurance.
I had to move the furniture into the partially completed area.
It should turn out even better than before the flood
I'll keep you posted as the project progresses.