Fayette Co. Applies for $2.5 Million in Federal Flood Buyout Funds

Fayette County is seeking $2.5 million in federal funds to buyout homes that were flooded after Hurricane Harvey. In addition, the county is seeking state funds to provide flooded homeowners with $150,000 grants to demolish and raise their homes.

In an interview last week, Fayette County Emergency Management Coordinator Janet Carrigan said the buyout funds would provide homeowners with the market value of their home minus any insurance or FEMA funds they already received. For example, if a home had a market value of $200,000 before the flood, and insurance and FEMA paid $150,000, then the County would pay $50,000 to buyout the property.

The $2.5 million federal buyout program would require a 25 percent match from the County. That amounts to $625,000. Carrigan said she is investigating whether the county could apply “in-kind” costs towards the match amount. For example, the County has already spent tens of thousands of dollars on dumpsters following the flood to help homeowners remove debris from their property. Carrigan said costs like that, which the county has already paid, could count toward the $625,000 match. The county has also applied for state grants that would provide homeowners with $150,000 to demolish and raise their flooded homes. This grant program also requires a 25 percent match from the County.

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