THE WHITE HOUSE
Office of the Vice President
STATEMENT OF THE VICE PRESIDENT ON CARTHAGE HOME BUYOUT PROJECT
I am pleased to announce today that the Federal Emergency Management Agency (FEMA), the State of Tennessee, and the City of Carthage will join together in a voluntary project to buy out eight homeowners who live in an area prone to repeated flooding.
Residents of this designated flood hazard area most recently experienced the devastation of the February 1994 ice storm, a federally declared disaster. But over the years, during all seasons, they have repeatedly found themselves in harms way and experienced the tremendous damage that floods can cause. Because of today's actions, these residents now have the option to receive pre-disaster market value for their property so that they may permanently remove themselves, their loved ones and their belongings from such destruction and loss.
The project is part of FEMA's hazard mitigation program which makes money available to states and local governments to help reduce or eliminate the impact of natural disasters. The land will be cleared and may be used in the future for parkland or recreational purposes, though it will not be further developed.