More N.J. Homeowners In Flood-Prone South River Offered Buyouts
TRI-STATE NEWS HEADLINES
SOUTH RIVER, N.J. (CBSNewYork/AP) – Gov. Chris Christie has announced more buyouts of flood-prone properties in the wake of superstorm Sandy.
The flood lines on some homes are still visible on water street in South River.
“I had to gut the entire house and rebuild the entire first floor,” said a man named Clark, who will take a buyout.
The state planned to offer buyouts to about 72 homeowners in South River.
The buyout offers homeowners the pre-storm market value for their home, through a $300 million program introduced by Christie in May.
“Our overall goal is to buy 1,300 homes this year, including 1,000 that were damaged by Sandy and 300 other homes that have had repeated flooding, like up in the Passaic River basin,” said the governor.
Last month, almost 130 property owners in nearby Sayreville took the buyouts. Their properties will be demolished within 90 days of acquisition.
“I know it’s not easy and I know it’s been eight long months so far,” said Christie.
The state is buying up contiguous properties from willing sellers that will allow it to create flood plains.
FEMA will provide 75 percent of the funding and the state will pay 25 percent.
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