.AP has found the U.S. has spent $5 billion buying private properties in recent decades to avoid having to repeatedly rebuild after flooding. The buyouts are expected to get more expensive as climate change leads to more intense rainfall and rising seas.
In this photo taken May 8, 2019, Elmer Sullivan checks out high water in the Fishing River in the small community of Mosby, Mo. Sullivan and nearly half of the homeowners in Mosby signed up in 2016 for a program in which the government would buy and then demolish their properties rather than paying to rebuild them over and over. They're still waiting for offers, joining thousands of others across the country in a slow-moving line to escape from flood-prone homes.
Finally fed up, Sullivan and nearly half of the homeowners in Mosby signed up in 2016 for a program in which the government would buy and then demolish their properties rather than paying to rebuild them over and over. They’re still waiting for offers, joining thousands of others across the country in a slow-moving line to escape from flood-prone homes.
The AP analysis shows those buyouts have been getting more expensive, with many of the costliest coming in the last decade after strong storms pounded heavily populated coastal states such as Texas, New York and New Jersey. This year’s record flooding in the Midwest could add even more buyouts to the queue.
DeFazio wants to expand and revamp a buyout process that he describes as inefficient and irrational. He’s backing a proposed pilot project that would give homeowners a break on their flood insurance premiums, as long as they agree in advance to a buyout that would turn their property into green space if their homes are substantially damaged by a flood.
After Superstorm Sandy pummeled New Jersey and New York in 2012, Duke University graduate school student Devon McGhee researched what happened to hundreds of Staten Island homeowners who took buyouts. She found that all but two of the 323 homeowners she tracked relocated to areas with higher poverty levels. Three-quarters remained on Staten Island, and about one-fifth moved to homes that still were exposed to coastal flooding hazards.
The city initiated a buyout in 2010, then received additional money to buy more homes about five years later. It’s purchased more than 80 so far, with about 10 more to go, said Annie Vest, a former Oklahoma state hazard mitigation officer who now works for an engineering firm administering Kingfisher’s grant.
But local officials aren’t waiting around. Mayor Cathy Crain said they are looking into the potential for a private developer to relocate some houses and to acquire higher land where new homes and businesses could be built.
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