The borough has seen its share of destruction from hurricanes, storms, floods and broken dams, and now a mitigation effort long implemented in surrounding counties is coming to the shores of Oakland, NJ. Natural disasters over the past few years raised to the surface what many residents live with on a more regular basis with property damage from floods impacting not just the content, but the structure of a home.
Buy-outs, where public and private funds are used to purchase and demolish flood prone homes, is now becoming a reality in Oakland with six homes along Roosevelt Boulevard targeted for buyouts from willing residents.
In a buyout scenario, the homes are purchased by the government and returned to a natural state. The land is then used for passive recreation, and can offer additional buffering to surrounding homes. The homes on Roosevelt Boulevard in Oakland abut the Ramapo River – providing river access to local residents, and has Truman Field at the end of the block.
The buyouts in Oakland have been made possible by a 1.4 million dollar grant from the Bergen County Open Space Trust Fund, $325,000 from the state Green Acres Fund, and $160,000 from the Land Conservancy of New Jersey which has also been instrumental in helping to establish the Ramapough Conservancy now responsible for the Van Allen House and the Stream House.
While the buyouts will offer many benefits such as removing families from harm’s way and providing accessibility to one of Oakland’s greatest natural resources – it will reduce the tax base with the removal of 6 ratables. This is a revenue source that can only be replaced with new construction, or through higher taxes.
The loss of tax ratables is a concern for all communities involved in buyouts of flood prone homes, but it is never proffered as an argument against this particular mitigation effort. Buyouts have been proposed nationwide as a means to end a cycle of flooding homes and dangerous conditions, and most environmentalists and economists would agree that it is the best long term investment in terms of flood management.
Further reading:
http://www.northjersey.com/news/oakland-gets-2m-to-raze-6-homes-1.1047769