FEMA has approved $33.2 million to purchase and remove at least 90 Vermont properties that were damaged or placed at serious risk by major flooding in recent years.

The funding will be used for voluntary buyouts of homes and businesses affected by the 2023 and 2024 floods, allowing vulnerable properties to be removed from areas where repeated flooding poses a continuing threat. Vermont Public reported the federal approval on September 16.

The buyout program is designed to reduce future flood losses rather than repeatedly rebuilding properties in locations that remain vulnerable. Once properties are purchased, structures can be demolished and the land can generally be maintained as open space or used for flood mitigation.

The latest funding represents a significant investment in Vermont's long-term flood recovery. For property owners, the program provides an opportunity to move away from locations where rebuilding may leave them exposed to another major disaster.

The need for the program follows two consecutive years of damaging floods across the state. The 2023 flooding caused widespread damage, while additional flooding in 2024 affected communities that were still recovering.

The buyouts also have implications for Vermont's real estate market and future development. Removing repeatedly flooded properties from residential and commercial use can reduce the number of structures exposed to future disasters while changing how communities plan and use vulnerable land.

Vermont officials have increasingly emphasized the importance of flood resilience as severe weather events continue to threaten homes, businesses and infrastructure.

The $33.2 million FEMA commitment gives communities additional resources to address some of the properties that are most difficult to protect through traditional rebuilding.

For Vermont homeowners and local governments, the buyouts mark another step away from simply rebuilding after disasters and toward reducing the risk of future flood damage.