New York to cover remaining 25 percent needed for buyouts

By Brandi Bailey
By Michelle Costanza

May 13, 2013 Updated May 14, 2013 at 12:14 AM EST

(WBNG Binghamton) Gov. Andrew Cuomo announced Monday New York state will encumber the local share of property buyout costs not covered by the federal government.

The funding comes through the HUD Community Development Block Grant Disaster Recovery Program.

It will cover the remaining 25 percent not covered by FEMA in the buyout program.

The town of Union was one of the hardest hit in Broome County, and officials say the grant money for full buyout costs help will ease financial burden for the town and its residents.

"A few of our residents did not have enough money in the buyout program to sell out their home, they didn't have enough equity. This will allow them to be part of the program and go on with their lives," said Union Supervisor Rose Sotak.

The town of Union has more than 180 applications for the buyout program, but Sotak says more residents could be applying this week as a result of the added help.

The deadline for buyouts is May 17.

The buyouts are expected to start as early as next month.

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