PRINCEVILLE, N.C. (WNCN) — Some home owners in Princeville want buyouts from FEMA after the flooding from Hurricane Matthew, but some town leaders worry about what that would do to the town.
The buyouts are one of three options FEMA has for the town’s residents. The others are raising the homes above flood level and tearing down and rebuilding.
Though FEMA would fund any of those options, the town’s commissioners will decide which of those three options will be available to property owners.
Some town leaders worry about the effect buyouts would have on the town’s tax base. After Hurricane Floyd in 1999, town leaders opted not to pursue buyouts.
“They’ll take out any loans, any SBA loans,” said Town Manager Daniel Gerald. “So, it’s moreso like you have the possibility of losing money with the buyout.” :04
The commissioners are asking residents to give them feedback.