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Disaster buyouts get mixed response from local officials
Local officials in one oft-flooded North Jersey town are counting on big savings through the federally supported buyouts of high-risk properties, but at least one mayor said the township could be left footing a heavy bill that won’t relieve future storm recovery costs.
“It’s important that residents who agree to a voluntary home buyout make, dollar for dollar, what their home was worth before flood damage,” said Pompton Lakes Mayor Katie Cole. “The homeowners are going to get back 75 cents on the dollar from FEMA, but the rest still has to be made up, and that will come from the county or our township.” (Eder, NJBIZ)
