(Spencer)-The Spencer City Council Monday evening was updated on the Federal Emergency Management Agency’s Buyout Program of flood damaged or destroyed residential property.
Deputy City Manager Kevin Robinson says, the city would need to opt into the program, gather interest from impacted property owners and identify areas for flood mitigation:
“What will happen is, FEMA will specify a certain amount of money, that amount of money will be given to The State of Iowa. Communities then need to submit a list of addresses for potential buy out in the program to The State of Iowa. The State of Iowa then analyzes those properties and then will tell each community how much money they’re gonna receive for property acquisitions.”
Robinson says properties that would be acquired would then become permanent green spaces or empty lots:
“Mitigation acquisition projects acquire the property and demolish existing structures, converting the property to open space. Ownership in the property is transferred to the community, the city or the county and becomes deed restricted in perpetuity. These property acquisitions must be strictly voluntary, meaning whoever currently owns the property opts into this program.”
Robinson adds that he continues to gather information as to how a buyout program would look. He says it would likely take up to 36 months in order for the funds to be triggered and the buyouts to occur.
