Colo. Springs considers buyout for damaged homes

Posted at 9:28 AM, Jan 24, 2016
and last updated 2016-01-24 11:28:42-05

Officials in Colorado Springs are offering to buy 20 homes damaged by landslides if they can get federal funding.

The landslides in May were caused by record-breaking rainfall.

About 40 homeowners in the Skyway and Broadmoor Bluffs neighborhoods have complained about damage from the landslides, and about half of them have said they are interested in a buyout.

According to the Colorado Springs Gazette, money could be available through the federal Hazard Mitigation Grant Program, administered by the state. The grant can cover 75 percent of all costs, but local agencies and private property owners will have to cover the remainder.