Hurricane Harvey Buyouts May Come This Week

Those who lost homes in the Hurricane Harvey flood continue to wait for their long-promised buyouts from the County. But the first purchase offers could be around the corner.

Fayette County grant specialist Angela Hahn submitted a report to the Commissioner Court last Thursday that said the first offers could go out by the end of the week.

Hahn reported that two of the properties were ready for offers. The Texas General Land Office (GLO), the state agency charged with distributing the federal buyout grants, has approved both the buyout application and environmental reviews for those two properties. However, terms of the grant stipulate that a portion of the buyout funds must go to low-to-moderate income (LMI) homeowners. The two owners of those two properties exceed the income threshold.

Of the 11 total properties selected for buyouts, there are enough to meet income requirements. The grant program requires that offers be made to LMI homeowners first. Hahn reported that the other nine homeowners are either awaiting application approval from the GLO or the environmental review. She anticipated that approval for two of the LMI homeowners might be complete by the end of the week.

Hahn said the offers would be issued contingent on appraisal certifications. The homes were appraised for their values before the 2017 flood.

“This process will be somewhat like how private market real estate transactions occur with appraisal contingencies for financing,” she said.

Once the buyouts are complete, the County plans to convert the properties into greenspace. Most of the homes on the buyout list are located around the Frisch Auf! Golf Course outside La Grange.