City of Pacific Voluntary Flood Buyout Program

The City of Pacific currently has 34 properties that are included in its Voluntary Flood Buyout Program. These properties are in addition to those that were bought out following the 2008 flood. The 34 properties are part of two federally funded programs, one called FMA (Flood Mitigation Assistance) and the other called HMGP (Hazard Mitigation Grant Program). Both programs help fund buyouts of floodprone properties, but the eligibility requirements and matching funds requirements differ.

The City of Pacific emphasizes that the Flood Buyout program is strictly voluntary, and participants are under no obligation until a real estate contract is signed. The City has to follow multiple steps before actually acquiring a property including the following:

  1. Receive invitation from the State of Missouri (State Emergency Management Agency, or SEMA) to apply for grant funding
  2. Contact eligible property owners and determine interest in the program
  3. Obtain necessary property owner signatures from those interested in participating
  4. Prepare grant application and file it with SEMA by the specified deadline. SEMA then reivews the application for completeness before forwarding to FEMA (Federal Emergency Management Agency) for review and (hopefully) approval.
  5. IF grant is awarded, the City then must procure all services through a competitive bidding process. This includes property appraisals, title work, project management services, asbestos inspection, demolition contractors, etc. 
  6. Any purchase offer to an eligible property owner must be approved by the State Emergency Management Agency. 
  7. The property owner may reject the purchase offer.  The property owner may also hire an independent appraisal from a licensed firm.
  8. If the property owner accepts the offer, typically the transaction will close in 30 days, at which time the property owner must completely vacate the property, and title then transfers to the City.

The program again is strictly voluntary, and property owners may reject purchase offers and choose not to participate in their sole discretion.

There is no cost to property owners for any of the appraisals, title work, etc. necessary for the City to implement the program. The only cost the property owner would be responsible for is the hiring of their independent appraisal, if they choose to do so.

Please see the following for more information on the program:

FEMA Flood Buyout FAQ

SEMA Hazard Mitigation Page