Will I be forced to sell my home if my community is granted funding for an HMGP acquisition project?
Acquisition projects funded under the HMGP are voluntary and you are under no obligation to sell your home. Communities consider other options when preparing projects, but it may be determined by State and local officials that the most effective mitigation measure in a location is the acquisition of properties and the removal of residents and structures from the hazard area. Despite the effectiveness of property acquisitions, it may not make you or your family whole again. Acquisition projects are based on the principle of fair compensation for property. Property acquisitions present owners with an opportunity to recoup a large part of their investment in property that probably has lost some, if not most of its value due to damage. But, it will not compensate you or your family for your entire emotional and financial loss.
Last Modified: Wednesday, 06-Dec-2006 18:30:07 EST