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Acquisition Projects

Property Buyouts Following the July 2023 Flooding: 

Grant funding is still available for the voluntary purchase of properties (residential, commercial, or vacant parcels) that are at risk from flooding.

  • If a property was damaged during the July 2023 flooding event, VEM may be able to fund the purchase of the property at the appraised value the day before the storm. 
  • If any federal funding was received following damages from this event (e.g., flood insurance payments or Individual Assistance), property owners need to save all receipts showing that funding was used for repairs. 
  • If a property was not damaged during this event but is at risk from flooding, VEM may be able to fund the purchase of the property at a current-market appraised value. 
  • If a property owner is considering pursuing a voluntary buyout, they should contact their town manager, administrator, or Selectboard to express interest. Towns with interested property owners should reach out to to learn more about the application process. 
  • Once property buyouts are complete, any structures will be demolished, and the property will be maintained as green open space in perpetuity. 
  • For more information please check the Buyout FAQs

If you have questions, please reach out to

General Information

HMGP Acquisition applications are projects for the voluntary acquisition of an existing at-risk structure and the underlying land, and conversion of the land to open space through EITHER the 1) demolition or 2) relocation of the structure. The property must be deed-restricted in perpetuity to open space uses to restore and/or conserve the natural floodplain functions. Both residential and commercial properties are eligible.

Project Cost-Effectiveness (BCA)

Some Acquisitions will require a FEMA cost effectiveness analysis, which must utilize the FEMA Benefit-Cost Analysis (BCA) program, version 6.0 or later. 

Application Requirements:

Below are the required forms for this type of HMGP application – all must be completed for your HMGP application to be considered complete. Some forms must be completed by the applicant, and some must be completed by the property owner.

Application Submission:

To submit an HMGP application, please email a digital copy (pdf) to