Homeowners in Flood-Prone NJ Town Offered Buyouts

Officials in a flood-prone central New Jersey town are offering property owners the chance to sell for the first time since 1999.     

Manville officials say flooding from Hurricane Irene and remnants of Tropical Storm Lee swamped about 1,000 of the Somerset County borough's 3,000 homes.     

FEMA awarded New Jersey $48.3 million to fund buyouts, raise elevations and other flood mitigation projects.

Nearly $40 million would buy 200 homes in Lambertville, Lincoln Park, Little Falls, Neptune, Nutley, Pompton Lakes, Ocean and Wayne.     

Municipalities can also seek money from a $24 million Blue Acres fund.     

Manville Administrator Gary Garwacke told The Courier News of Bridgewater $24 million doesn't go very far.

Manville spent $6 million to buy 38 homes out of about 600 that applied to sell in 1999.