Federal program to buy out flooded homeApril 25,2013By SANDI SWITZER
CLARENDON — A home on Cold River Road damaged by Tropical Storm Irene was approved for a buyout under a federal disaster program.
Funds from the Federal Emergency Management Administration and the state will be used to purchase the Prescott property.
FEMA notified town officials that Hazard Mitigation Grant Program funds will be used to buy the property at 75 percent of the fair market value the day before the tropical storm.
In addition, the property will automatically be considered for a 25 percent match through the Community Development Block Grant program.
Select Board Chairman Michael Klopchin said the landowners were informed of FEMA’s decision. “They are very pleased,” he said.
Klopchin told fellow board members this week that the town would have to submit documentation for the grant before receiving any funds.
For the complete story, see Friday's Rutland Herald.MORE IN This Just In
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