The voluntary purchase of houses that are repetitively damaged is one of the most cost-effective flood reduction tools SMC has in its mitigation toolbox. Buying and removing flood-prone structures ensure they are not damaged by floods in the future.
SMC maintains a list of properties that are candidates for buyouts when funds become available. SMC's buyout program is heavily reliant on the availability of federal funds, which are then leveraged with local cost-share funds. FEMA, working through the Illinois Emergency Management Agency, has provided over $5 million towards SMC's buyout program since 1997. To date over 200 homes and parcels have been purchased including the Gurnee Grade School.
FEMA uses a cost analysis formula to rate the structure for a possible buyout. SMC's buyout program follows FEMA's guidelines.
If you would like to be considered for SMC's buyout program or would like more information on the process, call 847.377.7700.