Washington, DC -- More than $13 million in federal and state funds has been made available to purchase 176 homes in Wayne County, N.C., that were heavily damaged by floods from Hurricane Floyd last September, according to the Federal Emergency Management Agency (FEMA).
"We are working hard to help communities prepare for and protect themselves against the threat of natural disasters," President Clinton said. "By taking this step now, we can safeguard many families from the ravages of future disasters."
Under the voluntary buyout agreement, the homes located in a neighborhood along Falling Creek and the Neuse River will be razed and the land turned over to Wayne County to be kept permanently in open space.
The funding is being provided through FEMA's Hazard Mitigation Grant Program, which makes funds available to states for approved projects that reduce future disaster risks. Under the program, FEMA is paying 75 percent of the buyout costs, or a total of $9,787,024. The remaining 25 percent share amounting to $3,262,341 is being provided by the state.
Wayne County is a participant in good standing in the National Flood Insurance Program, a condition for qualifying for these acquisition grants.