Home Buyout

Fayette County is in the process of applying to FEMA for Hazard Mitigation Grant Program (HMGP) assistance funds to support a voluntary Home Buyout program for County residents. In order to apply the County is soliciting homeowner interest in participation for FEMA elevation and buyout grant funds, available through the Hazard Mitigation Grant Program (HMGP). Interested homeowners must complete and return a Notice of Voluntary Interest Form indicating their interest in either the buyout or elevation assistance option (must select only one).

The County’s application is based on the interest of eligible homeowners who:

  • Are located in a FEMA designated flood plain,
  • Have experienced or are at risk for repeated flooding, and
  • Have a property that is considered cost beneficial if the cost of acquiring and demolishing the property is less than the cost of the estimated future flood damages to the property.

Buyout Assistance Projects

  • FEMA purchases property and it is permanently returned to green space in order to avoid future flood victims
  • Buyout is based on fair market value (FMV), pre- or post-value as determined by FEMA regulations
  • Homeowner may be responsible for up to 25% of the costs, to be deducted from final payment

Elevation Assistance Projects

  • Raise the existing house above the Base Flood Elevation
  • Raise utilities including air conditioner
  • Provide stairs and landings
  • Handicapped access if required
  • Rental reimbursement while lifting house
  • Homeowner may be responsible for up to 25% of the costs

For more information, contact the County at (979) 968-6469.