WSMV Channel 4 $30M in FEMA funding for Nashville flood buyouts back on track

$30M in FEMA funding for Nashville flood buyouts back on track

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Posted by Kevin Young - email
NASHVILLE, TN (WSMV) -

The Federal Emergency Management Agency will soon begin proceeding with buyout packages on homes damaged in the May 2010 flood.

Mayor Karl Dean announced Wednesday that $30.4 million in FEMA funding is now back on track after being frozen earlier this year due to a series of natural disasters, including Hurricane Irene.

The voluntary buyout program purchases flood victims' homes at pre-flood value, and a total of 226 homes in Nashville are scheduled to be included.

The buyout program gave first priority to homes that were in the floodways and sustained damage exceeding 40 percent of the total value of the structure, according to a news release.

The $30.4 million in funding also includes $3.8 million in matching funds from Metro.

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