New York Gov. Andrew Cuomo has suggested a buyout program for homes affected by Hurricane Sandy. THE LURE of the water, for some, overpowers reason. Some of us like to take our chances against Mother Nature. On South Buckeye Street the sparkle off Elm Creek is especially soothing. And yes, those waters can get too close for comfort.
The program would provide homeowners with pre-hurricane market values for the bulk of the homes washed away. In some cases, little more than foundations are left standing in the wake of the Oct. 29 hurricane.
Cuomo’s plan is similar in nature to the buyout in Iola after the flood of 2007 where more than 100 properties were sold voluntarily. Today, most of those lots are green fields in south Iola. A couple were used for the new Happy Tails dog park. Others were converted into soccer fields.
For those who chose not to participate, many homes have been raised several feet higher to help brunt the next deluge.
It was a tough decision for homeowners, but many were weary at the thought of starting from scratch the next time the proverbial floodgates open — which they will, as sure as the sun rises each morn.
Iola’s buyout was funded primarily by the Federal Emergency Management Agency and the state of Kansas. Iola contributed about 5 percent of the cost.
Gov. Cuomo is proposing $400 million for the 10,000 or more homes that lay in the hurricane’s path. The buyout is not for multi-million dollar waterfront estates. Prices would be determined by a median value of the homes in neighborhood and would have a cap.
Already, some are willing to take the offer. In a neighborhood off the shore of Staten Island, 133 of 165 households have signed up to take a buyout if one is offered, according to Monday’s New York Times. The buyout requires approval from the federal housing agency.
Besides the worry of future hurricanes, which account for two-thirds of all uninsured property losses, homeowners also worry about prohibitively high flood insurance rates coming down the pike.
Likewise, people who build homes on seaside cliffs and in the gullies of mountainous timber stands are asking for trouble, and their home insurance policies should reflect the gamble.
But when entire shorelines have to be rebuilt time and time again because of rising sea waters — a fact — then it’s time for prudence to overrule desire.
Take the money. Build anew elsewhere. Respect Mother Nature’s omnipotent power.
— Susan Lynn
