Gov. Andy Beshear announced that the state is sending $118.2 million to six Kentucky counties to buy properties “from willing and voluntary Kentuckians in flood-prone areas,” according to the governor’s office.
Local officials estimate these funds will benefit over 600 homeowners, the governor’s office said, helping them relocate to safer residences out of the floodplain.
The counties receiving the funds are Floyd, Knott, Letcher, McLean, Perry, and Pike.
“Nobody should have to stay in a flood-prone area simply because it’s too expensive to move,” Beshear said. “These buyouts will put money in the pockets of Kentuckians, keep our people safe and help our counties save money in the process. When our people go through tough times, we’ll be there to show them love and support them as they build back.”
Of the $118.2 million, the governor’s office said $106.7 million is federal funding from the Emergency Watershed Protection (EWP) Program.
The program is administered by the Natural Resources Conservation Service, an agency under the umbrella of the U.S. Department of Agriculture. The EWP Program requires a non-federal cost-share requirement to leverage federal funds.
“This cost-share requirement typically falls on the local government, Team Kentucky is covering this cost-share requirement for these six counties through the Local Match Participation Program (LMPP): $11.4 million in state LMPP dollars are matching the federal funds,” the governor’s office said.
The EWP Program pays homeowners the fair market value of their homes, as well as covers eligible relocation costs.
Click here for a funding breakdown for each county.
(Photo: Screen shot of video showing recent flooding in eastern Kentucky, courtesy of The New York Times)
By Ken Howlett, News Director
Contact Ken at ken@k105.com
