Statewide Buyout Program
The Statewide Buyout Program is a nonstructural mitigation program focused on supporting buyouts and may also include select elevation projects that align with federal grant requirements. Buyouts are one-time investments that result in complete flood risk reduction by moving people out of harm’s way. In addition, buyouts can restore the natural functions of floodplains, enhance communities through the addition of green space and increase Community Rating System scores, lowering National Flood Insurance Program premiums.
This program benefits low- and moderate-income residents and enhances buyout locations through the use of blue and green infrastructure that further reduces community flood risk. Once statewide models are complete, they will support pre-disaster buyout and relocation planning at the local and regional levels to increase public trust and participation in this program, improve community planning, ensure the safety of people living in high-risk areas and expedite federally funded buyouts.
Program funding is available as part of the Large-Area Buyouts and Traditional Nonstructural Mitigation program within State Projects and Programs, which is detailed in the state’s approved Action Plan to spend $1.2 billion in federal mitigation funds.
Residential Buyouts in Greinwich Terrace
The state is funding a $30 million program to offer voluntary residential buyouts in the Greinwich Terrace neighborhood of Lake Charles, an area that has flooded three times over the past four years. City and parish leaders have prioritized the Greinwich Terrace neighborhood as a top candidate for buyouts. The state’s coastal master plan also highlights the need for this program, leveraging science and data to reinforce the benefits these nonstructural risk reduction measures will offer to the area.
Louisiana residents interested in the statewide buyout program can contact LWI staff for more details at 866.735.2001.