Flood-prone Iowa town to disappear

[tyler811]

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[SampSon]

At least the govt. gave homeowners 110% of the assessed value and 10K in relocation bonus.
New Orleans didn't get this benefit.

 

[K1052]

Originally posted by: SampSon
At least the govt. gave homeowners 110% of the assessed value and 10K in relocation bonus.
New Orleans didn't get this benefit.

The NO tab is already going to be gigantic to the state and feds. 110% + 10K for several hundred thousand people would be quite the bill.

 

[EagleKeeper]

Originally posted by: SampSon
At least the govt. gave homeowners 110% of the assessed value and 10K in relocation bonus.
New Orleans didn't get this benefit.

the offer is to get out.

People in NO are not being asked to leave are they?

 

[dullard]

Originally posted by: SampSon
At least the govt. gave homeowners 110% of the assessed value and 10K in relocation bonus.
New Orleans didn't get this benefit.

It isn't even close to being comparable due to the scale of each. This buyout is $1.6 million for ~100 people (86 people in Elkport and 7 homes in Garber). Or a total of ~$16,000 per person. The median home value is only ~$40,000 in those towns. So a buyout is quite cheap.

Hurricane Katrina was estimated to cost the government $200 billion. I don't know what the final cost was, or the amount per person. However, $1.6 million vs ~$200 billion just isn't in the same league.

 

[zebano]

The town is still incorporated and the city council will meet monthly? WTH? I'm glad people were rational about moving to higher ground though.