Program to buy back hurricane-damaged and high-risk homes
New Jersey and federal officials have teamed up to help buy back damaged or high-risk homes impacted by Superstorm Sandy. The first purchase made on October 18, 2013 is part of New Jersey’s Blue Acres program, which will use $300 million in federal aid to buy out damaged or at-risk homes along the New Jersey coastline.
Although the New Jersey program is completely voluntary, New Jersey Governor Chris Christie has revealed that the program will target homes that have flooded repeatedly, particularly homes along the Delaware Bay. Many land use planners and flood protection professionals, however, denounce the program’s voluntary policy, which allows willing residents to sell back their homes on a first-come, first-serve basis, as opposed to scientifically targeting and seeking to acquire high-risk homes based on geological and hydrological models.
Sources: E&E News, www.sayreville.com