NEWBURY — It’s getting costly to rebuild on Plum Island. As a result, the town might someday be asked to buy oceanfront property should current homeowners chose to take a government “buyout” and leave their seaside land.
At a meeting of the Merrimack River Beach Alliance yesterday, a town official said that several oceanfront property owners are considering selling their properties to the government rather than rebuilding.
Government agencies, including the Federal Emergency Management Agency and the Massachusetts Emergency Management Agency, maintain a fund of about $7 million that can be directed to communities that are attempting to mitigate storm damage. Officials from the state Department of Environmental Protection said that this acquisition fund can be used to purchase property from owners, with the land designated for conservation purposes. Former owners would have no further claim on the land.
Six houses were destroyed and removed from Fordham Way and Annapolis Way during winter storms. Now several of those property owners are considering taking the fund rather than rebuild, according to Doug Packer, the town’s conservation agent.
If a property owner’s application is approved by government agencies, the fund would pay for about 75 percent of the market value of the land. The remaining 25 percent could be picked up by the town for conservation purposes, should residents choose.
“It would have to be approved at Town Meeting,” Packer said. “And passage would be difficult at best.”
There are currently three vacant parcels on Fordham Way and three on Annapolis Way. One property owner on each has expressed interest in the buyout program, but town officials did not identify those who are considering leaving.
It is unclear what would happen if the mitigation fund paid for a property, but the town did not agree to take possession and financial responsibility.
Discussion at the meeting, which was chaired by state Sen. Bruce Tarr, R-Gloucester, and attended by Department of Environmental Protection Commissioner Kenneth Kimmell, revealed that some island residents whose homes were damaged are having trouble in generating the money to rebuild.