St. Petersburg is finalizing the second phase of its $160 million disaster recovery plan, which includes homebuyer assistance, affordable housing and voluntary buyout programs.
The city expects to purchase 14 high-risk residential or commercial properties, help create 582 affordable multifamily housing units and provide 70 low-income households with up to $80,000 in down payment assistance. Acquisition program participants will receive the post-storm fair market value for their homes, up to $400,000, and cash relocation incentives.
Officials will offer those storm victims up to $50,000 to purchase or rent another home with a reduced flood risk in Florida. However, Councilmember Brandi Gabbard told administrators at a Jan. 15 committee meeting that ensuring residents can safely remain in coastal communities is a “huge priority for me.”…