Oakville Buyout Option *Updated*

*Updated* 8/9/2008

It was reported that Oakville residents who gave notices of intent to seek a buyout had filled out incorrect forms. The correct forms also require a damage inspection by someone who the city or a disaster representative appoints. The inspections and new forms must be filled out and sent in before a September 12, 2008 deadline. The city also has to fill out paperwork for the process to proceed.

*End Update*

The city council unanimously voted Wednesday, Aug. 6, to allow residents to pursue the buyout option for their homes. Nearly 90 homeowners had notices of intent to seek a buyout presented to the council. There are less than 190 homes in the entire town. The council had to approve the process in order for the option to become available.

A resident does not have to take the buyout even if it is offered. There are several residents who are rebuilding their homes and a few are almost ready for occupancy. Water and sewer have not yet been restored to residences so living in the homes will be difficult until that happens. Electricity and gas services have been restored but each house has to be inspected by licensed contractors before the utilities can be turned back on.

This does not mean that the houses and businesses will be bought out, only that the option can be pursued. The state of Iowa now has to approve the buyout option and then FEMA. Anyone of these can not allow the option to continue. If FEMA turns it down, the state can take it on themselves though that is less likely to occur.

Several other Iowa cities, including Iowa City, Palo, Vinton, and Cedar Rapids are looking to buy homes that have been too heavily damaged for residents to return. Cedar Rapids had 20% of its residents displaced in the flood and over 10,000 homes damaged as well as much of the downtown businesses. This much damage across such a wide area has strapped the state of many funding options.