NICHOLS, SC (WMBF) - The town of Nichols will not participate in buying flooded homes back from residents.
Nichols Town Administrator Sandy Rogers explained why.
She says there are a number of reasons. One reason is the town can’t afford to buy back homes since the town is short on money.
She said another reason is because the process takes too long.
“It can take anywhere between two to 10 years for these buyouts to take place,” Rogers said.
Rogers also says the buyout process is a little misleading for homeowners.
The common assumption is the municipality will pay 75 percent of the value of the home, and the homeowner will have to pay the remaining 25 percent. Rogers says that’s not true.
“They have to come up with 100 percent of the funding, and they are reimbursed for up to 75 percent of that,” she said.
She says the town’s plan is to have the homes elevated, rather than bought out.
“If we can get the homes elevated, then we can prevent them from flooding in the future, and that way our citizens don’t have to leave their homes,” she said. “They don’t have to leave their community and family and friends. So we’re hoping that that was the best option for the town.”
Rogers believes the elevation process will be cheaper and quicker.