Home Buyout Program

APPLY FOR VOLUNTARY BUYOUT

$5 million program buys homes with repetitive damage

After Hurricane Irma swept the Keys in 2017, the state Department of Economic Opportunity allocated $75 million for the Voluntary Home Buyout program of the Community Development Block Grant – Disaster Recovery (CDBG-DR). The Voluntary Home Buyout program targets homes with repetitive damage, in low-income households. The City negotiates a deal, buys the home, and demolishes it to leave the lot open for use as a “pocket park” green space or stormwater management.

The City has $5 million to spend and there are currently nine properties in the program. The City has enough funds to serve another 10 to 15 applicants. A recent rule change means homeowners could recoup a higher value for homes with repetitive damage.

The Voluntary Buyout Program also has a provision for tenants. Renters who need to relocate due to the home being demolished can be provided up to $10,000 for out-of-county relocation expenses or $25,000 for in-county relocation expenses.

Marathon’s Voluntary Buyout Program may also benefit homeowners who face persistent and unfixable code violations with the attendant fines.

The City of Marathon’s Voluntary Home Buyout Program is administered through Tetra Tech, the same contractor managing the program for Monroe County. 

For more information or to apply for the program click HERE, contact Maria Covelli at covellim@ci.marathon.fl.us for further information.