(Concord, NH) The NH Community Development Finance Authority (CDFA) has approved a Community Development Block Grant award of more than $266,000 to the Town of Conway to help fund the buy-out of homes left uninhabitable by Tropical Storm Irene. The Transvale Acres Buy-out Project will acquire at least 13 homes damaged by Irene in August 2011.

“The buy-out program is a chance to help low-to moderate-income residents who can’t sell or rebuild and help the town to remove structures which are life and safety hazards,” said Kevin Flynn, CDFA Communications Director. “While FEMA will pay for most of the effort, they required Conway to pay 25% of cost. This CDBG grant will fund the town’s match, which would have been burdensome to the municipal budget.”

Transvale Acres is a neighborhood that was developed prior to flood plain ordinances. The area is 98% within the floodplain and 50% within the floodway of the Saco River. During Tropical Storm Irene, more than 100 buildings were damaged or destroyed in Transvale Acres. Homes were evacuated and 22 people had to be rescued during the storm. Flooding damage ranged from contamination to the river from flooded septic systems, electrical hazards, and debris pollution including flammable gas tanks loosened and set free to travel the river. Governor John Lynch toured Transvale Acres after Tropical Storm Irene and requested it be declared a disaster area.

The town's goal is to reduce or eliminate year round residences in the floodway portion of Transvale Acres, but to allow continued recreational use. The floodplain portion will likely continue to be occupied with residences but as they are repaired or rebuilt they will have to comply with National Flood Insurance Program (NFIP) rules.

“Homes that will be purchases will be demolished and the land will be returned to green space permanently,” said Flynn. “This project will not solve the problem of residences in the floodplain or floodway in Transvale Acres, but it will remove those that were most impacted and therefore most hazardous.”

The $266,342 award made to the Town of Conway was one of several made in a recent $3 million competitive Housing and Public Facilities round for CDBG funding in NH. Grants were awarded on a competitive basis, with each project being scored on criteria such as project need, number of low-to-moderate beneficiaries affected, and readiness for implementation. The grants await final confirmation from the Executive Council.

The CDBG program funds provide housing and create jobs primarily for low- and moderate-income people. Funds are provided to the state of New Hampshire by the US Department of Housing and Urban Development, and administered by CDFA. Each project is evaluated on several criteria, including impact on low- and moderate-income residents and the acquisition of matching funding.

About CDFA:
CDFA supports the development of vibrant and resilient communities by providing resources for community development efforts. CDFA, created by the Legislature in 1983, is a nonprofit public instrumentality of the State of New Hampshire. CDFA administers nearly $57 million in funding resources, which includes a combination of state tax credits and federal Community Development Block Grant, Neighborhood Stabilization, and Energy Reduction Funds. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.

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