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 sell their property and 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 own property 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. Properties purchased by the Strategic Buyout Program will be demolished, cleared, and permanently maintained as green space by the local government.

If you choose to participate in the Strategic Buyout Program, you may be eligible to receive a buyout award based on the current appraised market value of your property. Primary resident property owners may also be eligible for an incentive package, designed to help make your move to a less risky area that is more affordable for you and your family.

Eligibility

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

  • Be located within a buyout zone
  • You must 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, be current in a valid, written repayment agreement, or be able to retire the debt at closing
  • Be current in any disaster recovery subsidized loan (if applicable), such as an SBA loan, or have a repayment agreement
  • Be current in mortgage (if applicable) and able to retire the mortgage at closing
  • Be on land you own (if applying for a manufactured home)
  • Be an eligible property type. The program will launch in two phases, first in Phase I and if there is sufficient funding, it will launch in Phase II 
    • Phase I – Residential properties owned at the time of the storm
    • Phase II – Non-residential, vacant lots, and properties purchased after the storm
    • For additional details on eligible property types, see Step 2: Preliminary Eligibility Review 

Buyout Zones

Applicants must be located within a buyout zone. NCORR and local government partners identify buyout zones within counties determined to be “Most Impacted and Distressed” (MID). HUD and the state determine these MID counties. NCORR is identifying buyout zones in HUD-determined MID counties as a priority before moving to state MID counties. Click on a county to view the buyout zones.

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