More than $118.2M to help Kentuckians impacted by flooding

FRANKFORT, Ky. – Gov. Andy Beshear has announced Team Kentucky is sending over $118.2 million to six counties to purchase properties from willing and voluntary Kentuckians in flood-prone areas.

According to a release by the governor’s office Wednesday, officials estimate the funds will benefit more than 600 homeowners and help them to relocate to a safer home out of a floodplain.

Officials say Floyd, Knott, Letcher, McLean, Perry and Pike counties are receiving funding. This follows the floods that occurred earlier this year, which impacted all six counties.

“Nobody should have to stay in a flood-prone area simply because it’s too expensive to move,” Beshear said. “These buyouts will put money in the pockets of Kentuckians, keep our people safe and help our counties save money in the process. When our people go through tough times, we’ll be there to show them love and support them as they build back.”

Of the $118.2 million, $106.7 million is federal funding, officials say. The federal money is sourced from the Emergency Watershed Protection Program, according to the release.

According to the governor’s office, this program is administered by the Natural Resources Conservation Service, an agency under the U.S. Department of Agriculture.

The EWP Program requires a nonfederal cost-share requirement to leverage federal funds. This cost-share requirement typically falls on the local government. Team Kentucky is covering this cost-share requirement for these six counties through the Local Match Participation Program: $11.4 million in state LMPP dollars are matching the federal funds.

The EWP Program pays homeowners the fair market value of their homes, as well as covers eligible relocation costs.

Click here for a funding breakdown for each county.