Having received an insurance payment for the loss of a house and contents doesn't preclude you from receiving a buyout. Insurance didn't reimburse for the loss of the land. In some cases the land value is considerable.
The buyouts will go to those that had no insurance 1st. They will work down a list and if enough money exists some could receive a buyout even if they got compensated by insurance.
At the top of the list is residents of Hawaii who were Homeowners.
Many of the destroyed properties were vacation rentals and owned by people out of state, these may not receive anything.
Hud Rules on duplication of benefits
Buyout offers are based on the pre-disaster (2017) appraised total market value of the property minus duplication of benefits and are subject to this maximum buyout amount.
Following release of the draft Initial Community Development Block Grant Disaster-Recovery (CDBG-DR) Action Plan, the recovery team worked with the U.S. Department of Housing and Urban Development (HUD) to clarify the application of duplication of benefits for the proposed voluntary housing buyout program. HUD has confirmed the following will not count as duplicative, meaning receiving these forms of assistance won’t reduce buyout grant amounts:
Federal Emergency Management Agency Individual Assistance for rental assistance, home repairs, or housing replacement;
U.S. Small Business Administration loans for home repairs, housing reconstruction, housing relocation, or other approved purposes;
Private insurance payouts for loss of structure and/or contents;
Private sources such as grants for home repairs or in-kind assistance.
The buyouts will go to those that had no insurance 1st. They will work down a list and if enough money exists some could receive a buyout even if they got compensated by insurance.
At the top of the list is residents of Hawaii who were Homeowners.
Many of the destroyed properties were vacation rentals and owned by people out of state, these may not receive anything.
Hud Rules on duplication of benefits
Buyout offers are based on the pre-disaster (2017) appraised total market value of the property minus duplication of benefits and are subject to this maximum buyout amount.
Following release of the draft Initial Community Development Block Grant Disaster-Recovery (CDBG-DR) Action Plan, the recovery team worked with the U.S. Department of Housing and Urban Development (HUD) to clarify the application of duplication of benefits for the proposed voluntary housing buyout program. HUD has confirmed the following will not count as duplicative, meaning receiving these forms of assistance won’t reduce buyout grant amounts:
Federal Emergency Management Agency Individual Assistance for rental assistance, home repairs, or housing replacement;
U.S. Small Business Administration loans for home repairs, housing reconstruction, housing relocation, or other approved purposes;
Private insurance payouts for loss of structure and/or contents;
Private sources such as grants for home repairs or in-kind assistance.