Home buyout program to provide life raft for flooded Hudson Valley homes
Hudson Valley residents inundated with flooding problems have another option out of their wave of problems.
Gov. Kathy Hochul is proposing to expand New York's voluntary home buyout program, known as Blue Buffers.
'Blue Buffers,' along with other state agencies, municipalities or nonprofits, will make an agreement with property owners.
The pre-flood fair market value will be honored, according to Gov. Hochul's 'State of the State 2024'.
The infrastructure of the property will be restructured to restore natural resources and make more green spaces for flood mitigation projects like tidal marshes and wetlands.
Tidal marshes reduce “wave action” and wetlands soak up rainfall, according to Hurricane Sandy research.
“In the past year alone, New York has become all too familiar with frequent, extreme weather events,” Gov. Hochul said.
A total of $250 million from the 2022 Clean Water, Clean Air and Green Jobs Environmental Bond Act will be used to fund the program.
Homeowners with property in neighborhoods that are vulnerable to flooding qualify.
The program will prioritize properties based on the level of flood risk and areas most vulnerable to high water and storm surges.
This is part of a package of proposals to fight climate change.