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."

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.

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