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Government Buyouts

Thursday, December 20, 2012

Buyouts for Hatboro Condos in 'Final Review'

Hatboro officials said the Pennsylvania Emergency Management Agency is carrying out a final review for possible buyouts of a dozen Woodwinds condominiums.

Hatboro's application for possible government buyouts of a dozen residences at the oft-flooded Woodwinds development is moving ahead, an official said.  Acting Borough Manager Fred Zollers said he was in contact with a representative from the Pennsylvania Emergency Management Agency earlier this month who notified him that the borough's application was advancing to the agency's "final review committee." "We should get some word abck from them," Zollers said of the buyout application, which was submitted in July. "Our application was found to be substantial enough to pass on to this review committee." If the application is approved in full, the agencies would provide money to 12 homeowners to purchase and demolish the Drummers Way …

Nicole

4:45 pm on Thursday, December 27, 2012

I hope this gets approved and moves forward. However, I think it is irresponsible to only approve half the homes along the creek. Once half the homes are gone how are the rest to ever sell their homes? Many of the homes that were dismissed from the proposal still flood or are attached to homes that flood. It's a death sentence to the remaining home owners who will never be able to sell their …   more ›

Tuesday, September 18, 2012

Should Hatboro Residents Foot Costs for Woodwinds Buyouts?

The Hatboro Borough Council is discussing who should cover the local 3 percent match should 12 Woodwinds condominiums receive buyouts from the federal government.

Hatboro elected officials are wrestling with how to cover roughly $80,000 in local costs in the event the federal government approves buyouts of a dozen flood-damaged units at the Woodwinds complex.  The council led the charge to request that the Federal Emergency Management Agency buy out the flood-ravaged homes, demolish them and return the property to its natural state, but Council President John Zygmont said during a capital budget meeting Monday that elected officials have yet to discuss who would cover the required 3 percent match of the approximate $2 million project. Zygmont suggested that since any federal monies would be paid in a lump sum to Hatboro that the borough use the estimated $160,000 per homeowner to leverage the …

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