The Real Deal New York

Cuomo’s $400M home buyout plan in Sandy-hit areas draws warm response

February 05, 2013 08:30AM

Flooded homes in New York state

Governor Andrew Cuomo’s $400 million plan to buy and demolish Hurricane Sandy-hit homes and have the land permanently preserved as coastline has been received warmly by residents in areas most affected by the storm, the Associated Press reported.

“A lot of people need that help,” Long Beach resident Tom Mannion told the AP. The plan would pay residents living in the flood plain whose homes were significantly damaged the full pre-storm value of their houses to relocate. State officials estimate that up to 1,500 homeowners might apply. A large group of these, over 150 homeowners, reside in the Staten Island neighborhood of Oakwood Beach. Joseph Tirone, a member of this group, told the AP that they hope government agencies would allow the plan.

Cuomo’s proposal requires federal approval, as it draws the $400 million out of a $51 billion federal relief package. A spokeswoman for Mayor Michael Bloomberg said buyouts were on the table, along with a host of other options, include moving  essential services to higher ground. [AP via Crain’s]  – Hiten Samtani

One Response to “Cuomo’s $400M home buyout plan in Sandy-hit areas draws warm response”

  1. February 05, 2013 at 1:32 pm, WrteStufLA said:

    “…the full pre-storm value of their house…” Would this be in addition to any insurance $$ that they received?

comment form

You must be logged in to post a comment.

MENU