Several areas on Long Island in New York State will get about $16 million in federal funding to buy storm-damaged properties and turn them into flood buffers.
Newsday says the funding includes $9.9 million for Amagansett, and $5.6 million for Mastic Beach and Shirley. Stony Brook will tentatively receive nearly $1 million.
The property owners will still retain some rights to the land. But no new construction will be allowed so that the land will remain in its natural state.
New York Sen. Charles Schumer says the flood plain restoration will reduce erosion and improve fish and wildlife habitats.
Topics Mergers & Acquisitions Flood
Was this article valuable?
Here are more articles you may enjoy.
Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure 
Rising Prices, Low Satisfaction Drive 49% of Customers to Shop For New Auto Insurance 
Liberty Mutual Posts $1.5B Net Income for Q1, Reversing Loss 
Progressive Set to ‘Maximize’ Growth, Building on Q1 
