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SCOR Announces Closing of Property Owner Intake Period for CDBG-MIT Horry Buyout Program

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Mon, 09/25/2023

South Carolina Office of Resilience Announces Closing of Property Owner Intake Period for CDBG-MIT Horry Buyout Program

HORRY COUNTY, S.C. – The South Carolina Office of Resilience (SCOR) announces the closure of the property owner intake period for the Community Development Block Grant-Mitigation (CDBG-MIT) Horry Buyout Program in Horry County. The intake period will officially conclude on Thursday, October 5, 2023.

The CDBG-MIT Horry Buyout Program was launched in June 2021 with the ambitious goal of conducting 61 voluntary home buyouts in the Rosewood area of Horry County. As of this announcement, 38 of these buyouts have successfully closed and 21 cases remain active. All active cases will continue to progress through the buyout process after the intake period closure. Should the remaining 21 offers be accepted, a total of 59 applicants will ultimately benefit from the CDBG-MIT Horry Buyout Program.

Two applicants originally enrolled in the CDBG-MIT Horry Buyout Program have been moved to the CDBG-Disaster Recovery (DR) Hurricane Florence program due to eligibility criteria and are still active in the buyout process. In total, 75 homeowners applied for the program, with some opting out or declining offers, leaving the remaining group of active applicants.

In recognition of the challenges posed by the housing market, SCOR committed an additional $4.3 million in CDBG-MIT funding beyond the original award amount of $12,735,685, and extended the intake deadline by 6 months, providing more opportunities for residents to participate in the program.

SCOR is proud of the significant progress made in the CDBG-MIT Horry Buyout Program and is pleased to reach this important milestone. We look forward to continuing our commitment to the remaining active applicants and ensuring their needs are met throughout the program.

Homeowners residing within the project area who are interested in voluntary home buyouts may choose to be placed on a waiting list for potential future funding opportunities that may become available. Those homeowners should contact SCOR as soon as possible at (803) 832-8004 or MIT_Buyout@scor.sc.gov.

 

About SCOR:

The South Carolina Office of Resilience (SCOR) increases the resilience of South Carolina by helping communities, economies, and ecosystems anticipate, absorb, recover, and thrive when presented with environmental change, natural hazards, and disasters.