They have been doing a version of this for a while in some areas. The homeowner gets a bailout, but the money comes with rebuild requirements (often lifting/lo

They have been doing a version of this for a while in some areas. The homeowner gets a bailout, but the money comes with rebuild requirements (often lifting/lofting the building above a 100 year flood level). If they are met, your property remains insurable and eligible for future help. Conversely, the owner can take the money and keep or sell the land. The problem with this method is that it tends to gentrify the region. Wealthier people can afford to live elsewhere during the repairs, but people living paycheck to paycheck are often forced to take the money and sell the land.