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FEMA Buyout

Flood Buyout
This page is intended to provide information on Lake County's Stormwater Management Commission's (SMC) Voluntary Floodplain Buyout Program which is funded in part by the Federal Emergency Management Agency (FEMA) grants. The Voluntary Floodplain Buyout Program may provide eligible home owners located in floodway, or subject ot severe damage from flooding with the opportunity to sell their property at fair market value. The house is then demolished and the floodplain property is returned to open space. The voluntary purchase of houses that are repetitively damaged is one of the most cost-effective flood reduction tools SMC has in its mitigation toolbox. Buying and removing flood-prone structures ensures that they are not damaged by floods in the future. For the community's taxpayers, buyouts also reduce the future public costs to local, state, and federal agencies that provide evacuation, emergency shelter, and debris removal services. In addition, buyouts provide the added benefits of imrpoving flood storage and conveyance, and can support water quality imrpovement.

For a step by step process of how to participate in SMC's Buyout Program, and an estimate of how long the process will take from start to finish please see the SMC Buyout Guidlines Brochure.