Comment Re:Go midpoint (Score 1) 56
Remember, the proposal here is not to 'take care of'. It is to eminent domain, condemn, and tear down the houses and other buildings.
Therefore, it is not perpetual government largesse, which would be closer to the federal government subsidized flood insurance program, which when I researched it often forced flood victims to rebuild in the exact same spot as before, without so much as lifting the replacement something like a foot above the last flood level.
The issue here night be if, say, I got wind of the program, found a cheap place, buying it from a foreclosure sale, counting on it being part of the buyout to get myself a better property.
Maybe I do some absolute minimum cost 'upgrades' to increase the footage and feature count.
Still, this could be addressed in various ways, like requiring residency(actually living there), or prorating depending on time owned. Like less than 1 year is the lower of purchase price or replacement cost, 10 years is replacement.