As part of flood recovery efforts, Boulder County officials have announced they will apply for funds from FEMA’s Hazard Mitigation Grant Program (HMGP). Funds from the program will be used to acquire, elevate or structurally retrofit properties that were substantially damaged in
the 2013 flood and are vulnerable to future disasters.
Property acquisition, sometimes known as a buy out or the 404 program, is one of the most well known functions of the HMGP program. In this portion of the program, funds are used to buy out properties damaged during flooding, demolish them, and turn the land into open space. Removal of these properties will prevent future losses occurring and will also give property owners an opportunity to recoup a large part of their investment in property that has lost some, if not most, of its value due to damage.
Participation in the HMGP program is voluntary for all parties involved. Property owners who have sustained damage as a result of the 2013 flood may be eligible to participate in the program. The county is reaching out to those with substantial damage from the 2013 flood through a mailing that will include a property owner handbook with details on the program.