Original source: https://www.nytimes.com/2019/07/06/climate/nashville-floods-buybacks.html
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The New York Times (07/06/19) Schwartz, John
Many cities and countries are initiating voluntary dwelling buyback programs that use a mix of federal, state, and local funding to provide market value for properties that have flooded. They go out, and the home is razed by the town and prohibits additional development, if the deal is accepted by the owners. The obtained land becomes an buffer. Head of the National Flood Insurance Program, david Maurstad, says buyouts are the most permanent method to mitigate against future flooding threats. Flooding prices continue to climb, but only 20 percent of the cash that the Federal Emergency Management Agency (FEMA) spreads in disaster grants is allowed for pre-disaster labour, although research shows that $1 spent on pay prior to a disaster strikes contributes to at least $6 in economies. Around the nation, relocations are revealing results. Back in Beatrice, Nebraska, floodwaters filled a park which included 40 acres of plenty, and businesses or no homes in the city were also damaged. FEMA has estimated that the program of the town averted $13 million in 2015 alone in damage.
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