Fort Wayne Mayor Announces Buyouts
Fort Wayne Mayor Tom Henry has announced the buyout of additional properties which suffered flood damage last year. The city secured a home buyout grant through an agreement with the Federal Emergency Management Agency to purchase eight properties.
The city’s Board of Public Works approved the grant agreement worth more than $600,000, 25 percent of which would come from local funds and the rest coming from FEMA. The city will contribute nearly $120,000 and the Maumee River Basin Commission will provide $31,000.
The city says the grant is part of a pre-mitigation program which funds property purchases when residents have told the city they want to be bought out due to experiencing repeated flood damage. The residents have agreed to an appraisal of their properties and if they agree to the purchase price, the property will be purchased, demolished and turned into greenspace.
"I continue to be encouraged by the progress we’re making in securing funding to help residents with flood buyouts," said Henry. "We’re committed to protecting neighborhoods and enhancing the quality of life in our community. Our collective efforts are making a meaningful difference."
Henry announced a similar grant earlier this year to purchase up to 18 homes. The city says those buyouts are currently processing.