TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Presentation on the Sarasota County Hurricane Ian Resilient SRQ Voluntary Property Buy Out Program.
Recommended Action
Presentation on the Sarasota County Hurricane Ian Resilient SRQ Voluntary Property Buy Out Program.
Background Information
In response to the devastation caused by Hurricane Ian in 2022, Sarasota County received $201.5 million in Community Development Block Grant - Disaster Recovery (CDBG-DR) funding from the U.S. Department of Housing and Urban Development (HUD) to support long-term recovery efforts. A portion of these funds, $6.46 million, has been allocated to the Resilient SRQ Voluntary Buyout Program, which is designed to acquire properties impacted by the storm and located in flood-prone areas. The program aims to reduce future disaster risks, enhance community resilience, and support homeowners, particularly low-to-moderate-income (LMI) households, who have limited recovery resources.
The Voluntary Buyout Program is a publicly funded initiative in which local jurisdictions apply for funding on behalf of interested homeowners. Eligible properties will be purchased at fair market value, and once acquired, the buildings are demolished. The properties become public land with strict use restrictions. These lands must remain open spaces in perpetuity and can only be used for purposes such as stormwater management, floodplain conservation, or limited public amenities.
Applications for the program will be accepted through April 30, 2025, with final funding decisions made by the Sarasota County Commission.
Strategic Plan
Environmental Resiliency & Sustainability
Financial Impact
If properties are acquired through the program, loss of tax revenue.
Procurement
None.
Attachments:
1. Presentation
2. Ian Resilient SRQ CDBG-DR Voluntary Buyout Fact Sheet
Prepared by: Valerie Malingowski, Grant Division Manager
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