Incoming Funds for The Home Buyout Program
Incoming Funds for The Home Buyout Program
Posted on 07/15/2020
Flooded residential area of Bonita SpringsCouncil has approved a resolution establishing a budget for the Home Buyout Program. An agreement between the City and the Florida Department of Economic Opportunity (FDEO) was fully executed on April 7, 2020 (BSC 20-004-049) for the Quinn/Downs/Dean Neighborhood Voluntary Buyout Program. The City has recently received an executed grant agreement from the Florida Department of Economic Opportunity’s CDBG-DR Voluntary Home Buyout Program to fund the purchase of qualifying properties in the Quinn/Downs/Dean Street (West of Imperial Parkway) area. This additional funding requires a budget for a new capital improvement project for the Quinn/Downs/Dean Street (West of Imperial Parkway) area project.

The Quinn/Downs/Dean Neighborhood Voluntary Buyout Program was created in 2019 to provide direct assistance to Bonita residents who own housing in flood-prone areas of the city. The program provides them the ability to sell their homes to the city in exchange for monetary compensation, giving them financial mobility to relocate to higher ground. In turn, this will grant the city access to affected land allowing them to implement projects that address the flood-related issues in the area. Houses acquired by the city through the program will be demolished giving ample time to implement a long-term solution to the flood plain issue.
The $5,000,00 grant will be allocated to the city’s Capital Project Fund.