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Only 10-15% of 10,000 affected homeowners are expected to apply? OK, but for those who don’t, no more flood insurance and no more taxpayer-funded loans and grants when the next storm strikes. Enough is enough.
Totally agree with those who do not take the buy out.
For those that DO take the buy out, the land should be returned to public use and access with minimal public buildings on it. Exception for be for small cost restrooms and related services such as lifeguarding, etc.
Public access next to your ocean front home ought to make the 90% rethink NOT taking the buy out.
Take tax payer money and buy a damaged house at previous full market value. There’s a democrat for ya! Great at spending my tax dollars to bailout some sorry azz that didn’t buy flood insurance to repair the home. And we wonder why this country is in the ditch with the tires getting stole off it by democrats.
Look at it as a cheap way for the government to get their hands on ocean front property at 2012 values – bottom of the market, rather than 2007 values at the top of the market. Add 10 years, and it looks like a pretty good deal.
AJ – this progressive agrees with much of what you said. However, abuse of taxpayer dollars is BI-PARTISAN.
fine. The Feds should then require that when the land is re-developed (it will be at some point), then the state is no longer eligible for Federal Disaster aid, unless the $400MM is returned at current year value, at the time any (non-public use) development contract is apporoved.