The FEMA Buyout Process

April 7, 2010

The FEMA buyout process is time consuming. First, we will need to finalize the preliminary application that was used to make the decision. This will include a formal appraisal (completed); completion of a benefit cost analysis (in process); and a duplication of benefits review, which will take into account the insurance proceeds we have received toward our buildings (also in porcess). While this paperwork is being done we will conduct a Phase 1 Environmental Study of the existing site. We have completed this study on the new site and had begun one on part of the existing site in relation to the Spencer Park exchange. All of this application groundwork is scheduled to be completed by the end of April.

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