Federal program to buy out homeowners hardest hit by floods - New York News

Federal program to buy out homeowners hardest hit by floods

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CHICAGO (FOX 32 News) -

Spring often means big floods in the Chicago area, especially along the Des Plaines River.

The Federal Emergency Management Agency has launched a program to buy out the homeowners who seem to get flooded the most.

FEMA will be able to buy and demolish 21 homes in Des Plaines neighborhoods hardest hit by flooding, using the nearly $2.7 million in federal grant money given to the town by the Hazard Mitigation Grant Program.

The agency provides the funds to aid victims of severe flood damage across the country. While many residents love their homes, the program could end up saving taxpayers money in the end.

The cost of insurance for those whose properties experience flood damage every year is sure to increase with every claim filed. They are going to need more money from FEMA to pay for repairs and wait for that money to be approved and distributed each time their home sustains damage. The residents FOX 32 News spoke with Friday morning said it would be a smart choice to let the government buy homes that see this type of activity more often than not, and relocate.

FEMA also said the lots will be open space once the houses are knocked down, which can be developed into parks, bike trails or other public spaces that all taxpayers can use.

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