MSD buying up homes in flood-prone areas - WDRB 41 Louisville News

MSD buying up homes in flood-prone areas

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LOUISVILLE, KY. (WDRB) -- MSD is buying up 128 homes on Maple Street after federal funding was approved for the flood-prone area.  During flash flooding in August 2009, more than seven inches of rain fell in less than two hours.

In the next few days, MSD will issue the first 50 offers to people willing to sell their homes.  Steve Tedder of MSD says, "We want to work with residents, we hope that all of them will want to accept the buyouts, and that we will work through the process as quickly as we can with them."

MSD says residents will be offered fair market value for their properties -- essentially what it would be worth if it had no flood damage.  They expect the majority of the buyouts to be complete by the end of this year.

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