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How do flood buyouts work?

One strategy to address repeated flooding is a \u201cbuyout,\u201d in which residents sell their flood-prone properties to the state or local government and relocate to areas with lower flood risk.

How do I know if my house is at risk of flooding?

The quickest and easiest way to find out if your property is prone to flooding is to check a flood risk map. The Environment Agency provides live maps which give information about long-term flood risk to properties.

How much do you get in a buyout?

A standard buyout package consists of the equivalent of four weeks of payments, plus an additional week for each year of employment with the company.

What is Blue Acres program NJ?

Disaster Recovery: Blue Acres helps New Jersey residents whose homes have been damaged in flooding events, such as those whose homes were destroyed or damaged when the remnants of Tropical Storm Ida impacted New Jersey in September 2021.

What is a buy out program?

The buyout program, which is designed to primarily benefit low- to moderate-income residents, offers an incentive\u2014payment above fair market value\u2014to eligible applicants who relocate to areas of lower flood risk.

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