Buyouts for Flood-Prone Homes in NJ
If you live in a flood-prone area in New Jersey, help is on the way.
Governor Chris Christie plans to use $300 million in federal funding that would give homeowners the option of selling their properties damaged by Superstorm Sandy in tidal areas of New Jersey. The initial targets will include about 350 homes in Sayreville and South River in Middlesex County that were impacted by flooding from the Raritan and South Rivers, and Delaware Bay homes in Lawrence Township in Cumberland County.
The offers to willing seller homeowners are expected to begin in July through New Jersey’s existing Blue Acres Program.
The program is designed to give homeowners the ability to choose the best option for their individual situation.
“This buyout program will give homeowners added flexibility and another option as they rebuild from Sandy,” said Governor Christie. “The process is a way to help people and property get out of harm’s way, but as I have always said, we will not force any of these residents to sell their homes or force any towns to participate in buyouts. This is a willing seller program for beleaguered neighborhoods and communities in flood-prone areas that have suffered the wrath of Sandy, and who believe that buyouts are the best option for their future.’’
Click here for more information on the Blue Acres Program.
(The Governor’s Office contributed to this article.)