The Flood Diversion Board of Authority has approved agreements to purchase two properties in compliance with the Board’s Hardship Policy. The contracts are for purchase at the appraised value plus relocation expenses.

Under the Hardship Policy, the property must be located within the planned buyout area associated with the Project, the property owner must have a serious health condition certified by a medical professional, and the health condition must make it difficult for the property owner to continue living at the residence.

Eight properties were evaluated for early buyout and three properties were determined by the Hardship Review Committee to meet the criteria of the adopted Hardship Policy. All three properties are located within the City of Oxbow. Appraisals of these properties were conducted after authorization by the Diversion Authority by a local appraiser and reviewed by the U.S. Army Corps of Engineers.

Purchase agreements for all three properties were developed by the Diversion Authority staff, legal counsel, and the program management consultant. Two owners agreed upon the sale, and the third owner is still contemplating the decision.

The purchase agreements indicate that the Diversion Board of Authority will take title of the properties. The closing date for the properties will be November 30, 2012 and the Diversion Authority will take possession 30 days from the date of closing.

The properties will be managed by the property management firm Coldwell Banker First Realty, selected by the Diversion Authority in October.

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