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$118 Million Coming to Flood-Prone Kentucky Counties for Home Buyouts

Frankfort, KY (WMDJ) — More than $118 million is being sent to six Kentucky counties to help families move out of flood-prone areas.

 

Gov. Andy Beshear announced Wednesday that the funds will support property buyouts for over 600 homeowners in Floyd, Knott, Letcher, McLean, Perry, and Pike counties. The goal is to help residents relocate to safer ground following severe flooding earlier this year.

 

Of the $118.2 million total, about $106.7 million comes from federal Emergency Watershed Protection funds through the U.S. Department of Agriculture. The state is covering the $11.4 million local cost share through its Local Match Participation Program.

 

The program pays homeowners the fair market value of their properties and covers eligible relocation expenses.

 

Beshear said the initiative ensures Kentuckians aren’t forced to stay in dangerous areas simply because they can’t afford to move.

 

Flood survivors in Eastern Kentucky are encouraged to visit HousingCantWait.org to learn more or express interest in new housing opportunities being developed in Floyd, Knott, Perry, Letcher, and Breathitt counties.

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