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Town weighs USDA buyouts for flood‑prone homes as funding clock approaches
Summary
The board revisited a USDA buyout program that would reimburse 75% of acquisition costs, leaving a 25% local match; decisions depend on homeowner interest and whether the town can cover the local share. The board will take up the item again next week.
Board members reviewed the status of a USDA Emergency Watershed Protection buyout program that would reimburse about 75% of property acquisition costs with a 25% local match. Staff said appraisals and environmental reviews have been completed for up to five flood‑prone properties; the town must decide whether it can assemble the local share before USDA deadlines and whether homeowners remain interested.
A board member explained that the program offers pre‑storm appraised values as the basis for offers and that markets may have risen since the appraisal date, creating a funding gap the town would need to make up if homeowners expect current market value. Several homeowners present said interest varied from household to household; some are open to offers, others prefer to stay.
Staff emphasized the voluntary nature of the buyout: homeowners can decline offers and remain in place. The board noted the statutory timing attached to the USDA commitment and scheduled further discussions and a likely agenda item next week so the town can inform USDA of its intent.
No purchase approvals were made at the meeting; the board directed staff to contact homeowners for updated interest, gather precise local cost estimates for a 25% match, and return with recommended next steps.
