State Allocated $171 Million For Buyout Program

LINDENHURST, N.Y. (CBSNewYork) – Fewer than 100 Long Island property owners who sustained serious damage in superstorm Sandy are interested in the state buying them out.

As WCBS 880 Long Island Bureau Chief Mike Xirinachs reported, Anthony had already made major repairs to his Lindenhurst home by the time he was made aware of a state program to purchase storm-damaged property.

“I had just raised the house after we found out about the buyout. I just raised it, so hopefully we won’t get another storm,” he told Xirinachs.

Anthony said even if he had found out about the buyouts sooner, he still likely would not have taken the state up on the offer.

“I lived here my whole life. My father moved here right after the war and everything so I got a lot of sentimental values here,” he added.

Only 70 of more than 600 Long Island property owners considered for buyouts are takers, according to the state. All of the buyout offers were made to Suffolk County residents.

Many said they either found out too late or the offer wasn’t financially attractive.

The state allocated $171 million for the buyout program. Payments would be capped at $729,750 for a single-family home.

You May Also Be Interested In These Stories

[display-posts category=”news” posts_per_page=”4″]