NJ to Buy Flood-Prone Homes

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    NEWSLETTERS

    TK
    AP

    New Jersey officials say they'll present a plan within two to three weeks for buying approximately 1,000 flood-prone homes from owners who want to sell them.

    Environmental Protection Department spokesman Larry Ragonese says the first sales are expected in 2013.
     
    The DEP says it expects to receive $250 million or more for buyouts in federal money to help recover from Superstorm Sandy.
     
    Gov. Chris Christie has been saying for months that he wants to buy out swaths of contiguous properties, not just scattered homes.
     
    Ragonese says the state has talked with dozens of communities in a search for neighborhoods that are flood prone and where residents want to sell.
     
    He says areas that are bought will be reverted to flood plains.

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