08/20/12 The City of Plymouth has been awarded up to $530,466 in grant funding administered through the Indiana Department of Homeland Security (IDHS) for the voluntary Flood Home Buyout Program. Funds are made available to eligible communities through the Federal Emergency Management Agency (FEMA), and are tied to recent disaster declarations in the state. A 25% local match is required in order for a locality to participate in the program.
Seven residential properties within flood-prone zones along the Yellow River in downtown Plymouth will be acquired by the City and demolished. The Plymouth Common Council approved purchase offers Monday evening that will be extended to the affected homeowners by Marshall County Economic Development, which is managing the grant.
Properties included in this voluntary buyout include:
501 South Walnut Street at $82,250
606 South Plum Street for $52,000
614 South Plum Street for $66,500
401 Schuyler Street for $116,500
312 East Garro Street for $68,750
227 East Garro Street for $71,500
Plymouth Mayor Mark Senter said, “The City’s advocacy for this assistance represents our prioritization of the health and human safety of Plymouth residents.” He continued, “We appreciate being able to leverage a 75% federal share to help relocated these homeowners so safer ground.”
According to the parameters of the program, covenants placed on the cleared property will restrict future development of any insurable structures. The intention goal of the property by the City is to effectively hold run-off flood waters in perpetuity.
