The homeowners make money, government (AKA taxpayers) doesn't have to spend as much on future disaster relief, and there is more of nature to admire. Win-win.
Thursday, February 7, 2013
In Praise of a Politician
Cuomo Seeking Home Buyouts in Flood Zones
"Gov. Andrew M. Cuomo is proposing to spend as much as $400 million to purchase homes wrecked by Hurricane Sandy, have them demolished and then preserve the flood-prone land permanently, as undeveloped coastline."
"For the 10,000 or so homes in the 100-year flood plain that were substantially damaged by Hurricane Sandy, Mr. Cuomo would offer owners the pre-storm full market value of their houses. Homeowners who chose to relocate within their home county would receive a 5 percent bonus above the market value, as part of a government effort to encourage them to stay nearby. State officials said they were planning for the possibility that 10 to 15 percent of those eligible would take the buyout."