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Owego to Close on Eight FEMA Buyout Properties

Within the next week or two, the Village of Owego expects to close on eight FEMA buyout properties.
Within the next week or two, the Village of Owego expects to close on eight FEMA buyout properties. The village finally received the money so it can give the flooded 2011 homeowners compensation for their homes.

Those houses are expected to be demolished in about a month or so.

Six other homes are also slated to be bought out, although the village is still waiting for FEMA to sign-off on them.

Mayor Kevin Millar says about 25 homes may be elevated with the hope of surviving future floods, although that process is still being worked out.

"It really depends on how aggressive the homeowners are and they do have to incur 25 percent of the cost and some of them are a little bit reluctant to do that, which I don't blame them. It's a serious decision to decide to pay 25 percent of the total cost of elevation, which can run somewhere between $60,000 and $80,000," said Millar.

Meanwhile in the Town of Owego, there are expected to be 26 buyouts and six homes may be elevated.
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