State officials in New Jersey are moving forward with plans to buy flood-prone properties in the wake of Superstorm Sandy.
Officials met with 129 Sayreville home and property owners who are approved for buyouts.
Environmental Protection Department spokesman Larry Ragonese told The Home News Tribune of East Brunswick the people own contiguous properties and clusters of homes that will allow the state to create flood plains. Ragonese says the state is hoping to buy the first homes by the end of summer.
FEMA will provide 75 percent of the funding and the state will pay 25 percent.
The state is only working with willing sellers and owners can reject the offer without losing their homes.
Ragonese says about 72 properties in South River are next.
Topics Flood New Jersey
Was this article valuable?
Here are more articles you may enjoy.
Zurich Sees Data Center Boom Spurring Insurance Securitization 
To Carriers’ Relief: New Florida Rule Won’t Count Mediation Requests as Complaints 
Appetite for Insurance M&A Remains as AI Enters the Chat, Says PwC 
California Homeowners Insurance Costs Still 41% Below National Average, Report Shows 
