Cuomo Pushes for Coastal Buyout
Posted at 11:45 a.m. on Feb. 4
New York Gov. Andrew Cuomo (D) is pushing a program to “spend as much as $400 million to purchase homes wrecked by Hurricane Sandy, have them demolished and then preserve the flood-prone land permanently, as undeveloped coastline,” the New York Times reports.
“Aides to Mr. Cuomo met with federal officials in Washington on Friday to present their hurricane response plan, including the proposed buyout program, which would be paid for using a portion of the $51 billion disaster relief package approved by Congress last week… The buyout program requires approval from the federal housing agency.”
“State officials said they were planning for the possibility that 10 to 15 percent of those eligible would take the buyout.”