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Buyout process begins in Bayou Corne

3 years 6 months 4 weeks ago March 26, 2013 Mar 26, 2013 Tuesday, March 26 2013 March 26, 2013 5:02 PM in News
Source: WBRZ
By: Adrian Pittman

BAYOU CORNE - Inspections continued today in Assumption Parish as the buyout process for people affected by a nearby sinkhole moves forward.

The Parks have lived in Bayou Corne for more than 20 years, and said they hate to leave.

"This has changed everyone of our lives and when you look at all of this, you can't put a dollar value on it. It's something that is priceless," said Pat Parks.

The inspections started Monday, followed by appraisals where a fair market value will be determined on the property based on the value before the sinkhole happened. After that,Texas Brine will make an offer to the homeowners within 30 to 40 days.

Texas Brine agreed to provide settlement offers which include buyouts to the residents of the Bayou Corne community, who were forced to evacuate the area because of the massive sinkhole. Out of the 150 homes evacuated, 84 homes have applied to be bought out by Texas Brine.

Homeowners can also include other damages from the development of the sinkhole, like emotional and physical stress with their claims.

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