Buyouts announced for victims of Irene damage

December 9, 2011 3:16:17 PM PST
Residents living in flood prone areas of New Jersey are finally getting the news they have anxiously hoped to hear.

After their homes were recently ravaged by Hurricane Irene, the federal government has announced it will spend more than $28 million to buy those homes.

But what does it really mean for those homeowners?

For years, people have been trying to move away from Fayette Ave. and other low lying areas in Wayne. There is still water there from Tuesday's storm.

Senator Frank Lautenberg along with Congressman Bill Pascrel showed President Obama first hand how bad it gets, in early September.

Now three months later and the buyouts are about to begin.

  • $28 million earmarked for 150 New Jersey homes in 5 counties.
  • $6.3 million for 56 homes in Wayne
  • $4.1 million for 18 homes in Lincoln Park
  • $3.8 mill for 15 homes in Pequannock
  • And $3.1 million for 13 homes in Pompton Lakes.