Floyd County’s getting nearly 1-point-7 million dollars in federal FEMA funds to purchase 13 properties damaged in the historic July 2022 floods. The county will also receive a grant worth a little more than 100-thousand dollars to manage the acquisitions. Missy Allen is the special projects director for Floyd Fiscal Court.
“With this particular FEMA buyout, there is no cost to the homeowner. So they will be getting paid for their property.”
According to a news release from the Federal Emergency Management Agency, the property owners will be paid fair market, pre-July 2002 price. Allen said the court will chip in another 12 percent and the state, 13 percent, raising the total to nearly $2.1 million.
“We have approximately 125 families who have signed up, so we have 125 properties that are in the FEMA buyout.”
Allen said about 15 of those buyouts have been closed on and 18 more are in the process of being bought out.
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