However, through a constitutional amendment by the New Jersey State Legislature in 2019, a portion of the state’s corporate business tax is also used to fund the program to ensure a more sustainable and predictable funding approach. The program is funded by federal sources like FEMA and HUD. Flood-prone areas with clusters of interested homeowners, in areas with local municipal support for buyouts, may be eligible for a possible buyout project.
Before Sandy, local governments struggled to process more than $100 million in pre-Sandy flood insurance claims so the state stepped in to help the municipalities with buyout projects that could mitigate future risk and losses, and most importantly help their residents move to safer ground.īlue Acres, McGee laid out, focuses on “getting families out of harm’s way.” The buyout process is voluntary, and homeowners must apply for a buyout to be considered. The floodplain buyout program was amplified after Superstorm Sandy, in which dozens lost their lives, 365,000 homes were damaged or destroyed, and $30 billion in economic loss was wrought across the state, said Fawn McGee, director of the Blue Acres Program and bureau chief for the Green Acres State Land Acquisition Program, at a ULI 2020 Fall Meeting concurrent session. To date, about 700 homes in 20 municipalities and 10 counties have been demolished, creating open space to provide a buffer against future floods, and an asset for recreation and environmental rehabilitation. Since Superstorm Sandy, the program has secured federal funding for nearly 1,200 properties and made offers on 1,115 of them. The program has impressive metrics that show its success. The Blue Acres Buyout Program, as it is formally known, seeks to improve the slow approval times that keep homeowners from collecting disaster relief and the tortuous process of finding replacement homes.
The New Jersey Blue Acres program is a nationally recognized example of an established and forward-thinking buyout program. The state has acquired approximately 760 properties since this expansion, boosting flood safety in 20 cities and towns, and creating functional green space which can serve as both flood protection and a recreational amenity. Staff does this work on homeowners’ terms -on weekends, in diners, allowing for life events to occur before scheduling a closing. Now its staff works around the clock to counsel, advocate for, inform and listen to homeowners considering a buyout. The program, conceived in 1995, and amped up after Superstorm Sandy destroyed thousands of homes within the state’s many coastal and riverine communities. In New Jersey’s tapestry of small towns and close-knit communities, a state program called Blue Acres weaves together social services with flood protections.
0 kommentar(er)
