The goal of SCOR's buyout program is to relocate citizens out of harm's way and restore the natural function of the floodplain. Buyout programs are voluntary and the properties acquired are returned to green space, creating an opportunity for flood waters to be captured through stormwater parks, water retention ponds, or other mechanisms. SCOR aims to buyout contiguous properties in order to avoid a "checkerboard" effect, which removes some citizens from the floodplain, while leaving others.
|Total Budget||$35 million|
|Eligible Applicants||Counties, cities, or towns|
|Eligible HUD National Objectives||
|Eligible Activities||Buyout of residential properties|
|Benefit Cost Analysis (BCA)||When comparing and selecting Infrastructure and Buyout projects, SCOR will complete a Benefit Cost Analysis to determine the dollar value for the positive impact the project will have on the area. For example, if the cost to restore a wetland is $50,000 and will prevent $100,000 in future flood damage, the BCA is 2 (benefit divided by cost).|