SAYREVILLE – Residents of some flood-prone neighborhoods in Sayreville have begun to receive their buyout officers from the state’s Blue Acres program, but some are unhappy with the amounts, according to a Star-Ledger report.
Manuel Lucas told the newspaper that he received a $304,000 buyout offer for his three-bedroom ranch home that was refurbished after Hurricane Sandy, and he believes it’s worth at least $400,000. Lucas said that many of his Weber Avenue neighbors are also unhappy with their offers.
The Federal Emergency Management Agency is funding the state’s program to purchase and demolish homes in flood prone neighborhoods. In Sayreville and South River, 272 homeowners are being offered buyouts under the voluntary program.
Homeowners can appeal if they think the state’s appraiser undervalued their property by hiring their own licensed appraiser. A third appraiser would then review both valuations and calculate a revised offer.
Know something we don’t? E-mail us at email@example.com
Connect with NJTODAY.NET
Join NJTODAY.NET's free Email List to receive occasional updates delivered right to your email address!