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1 1 (May 28, 2024)

handle is hein.crs/goveppd0001 and id is 1 raw text is: Congressional ____ .Research Service informing the legislative debate since 1914 Floodplain Buyouts: Federal Funding for Property Acquisition Updated May 28, 2024 Flooding is the most frequent natural disaster in the United States and experts expect effects to intensify in the future. A floodplain buyout is a property acquisition in which a government agency purchases private property, relocates or demolishes any structures on it, and preserves the land as open space. Buyouts offer one way to reduce flood risk. Unlike other approaches to flood mitigation, buyouts eliminate future losses by removing properties from areas at risk of flooding. Buyouts can also improve stormwater management, restore and conserve natural floodplain functions, and provide other ecosystem services. Federal Funding for Buyouts Flood buyouts can be funded by several federal programs: * Any of the Federal Emergency Management Agency (FEMA) Hazard Mitigation Assistance (HMA) grant programs: the Hazard Mitigation Grant Program (HMGP), the Building Resilient Infrastructure and Communities Grant Program (BRIC), the Flood Mitigation Assistance Grant Program (FMA), and the Safeguarding Tomorrow Revolving Loan Fund Program; * National Flood Insurance Program (NFIP) Increased Cost of Compliance Coverage; * Department of Housing and Urban Development Community Development Block Grant Disaster Recovery (CDBG-DR) program; and under some circumstances: * FEMA Public Assistance; * Department of Agriculture Emergency Watershed Protection Program; * National Oceanic and Atmospheric Administration land acquisition projects; * Land and Water Conservation Fund; * United States Army Corps of Engineers flood risk reduction projects; and Congressional Research Service https://crsreports.congress.gov IN11911 CRS INSIGHT Prepared for Members and Committees of Congress

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