Strategic Buyout Program

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ReBuild NC provides eligible property owners located in areas that are prone to repeated flooding the opportunity to relocate to safer land. The Strategic Buyout Program has worked with local governments to identify areas with the greatest risk of damage from future hurricanes and floods. These areas are known as Disaster Risk Reduction Areas or buyout zones. You must be located in one of these areas to be eligible for the Strategic Buyout Program. Applicants to the program will be contacted by ReBuild NC to confirm that they are located in a buyout zone.

If you choose to participate in the Strategic Buyout Program, you may be eligible to receive a buyout award based on the pre-storm fair market value of your property, minus any duplication of benefits. Your property will be demolished, cleared, and permanently maintained as green space. You may be eligible for additional incentives if you relocate to an area with lower flood risk within your county or to another area in North Carolina.

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Video Transcript

Eligibility

If you want to apply for the Strategic Buyout Program, your property must:

  • Be located within a buyout zone
  • Have been owned (by you) at the time of the qualifying storm; you must still be the current legal owner of the property;
  • Be able to achieve a clear, insurable, merchantable title (or a viable method including timeframe for clearing nuisance liens) and have authority to sell (if applicable);
  • Provide proof that at least one household member is a US citizen, non-citizen national or qualified alien;
  • Be current in property taxes or be current in a valid, written repayment agreement
  • Be current in any disaster recovery subsidized loan, such as an SBA loan or have a repayment agreement
  • Be current in mortgage (if applicable) and able to retire the mortgage at closing
  • Own a single-family residence, rental property or previously standing single-family residence (now vacant land) that is located in a buyout zone
  • Be on land you own (if applying for a manufactured home)

Buyout Zones

Applicants must be located within the following buyout zones: