FLOOD-impacted homeowners from the Mi Hi Grove unit complex in Ipswich are now one step closer to receiving voluntary home buy-backs under the Resilient Homes Fund.
Mi Hi Grove in Brassall is a strata-title property of 42 separate units with 42 separate homeowners. The complex, which was significantly impacted in the 2022 floods, sits within the highest flood risk category for Ipswich and is vulnerable to future flood events.
The Resilient Homes Fund and Voluntary Home Buy-Back (VHBB) program – jointly funded initiatives delivered by the federal and state governments through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA) – were established in May last year following the catastrophic 2021-22 rainfall and flooding events.
Through the VHBB program, voluntary home buy-backs were identified for homes that were the most severely impacted and at the greatest risk of future flooding.
The Queensland Reconstruction Authority (QRA) has collaborated with the National Emergency Management Agency to ensure that the DRFA could fund the cost of buy-backs at Mi Hi Grove.
The QRA has also worked with Ipswich City Council to continue to assist the Mi Hi Grove Body Corporate Committee to address the complexities of a voluntary home buy-back of a community title scheme.
At a Special Council Meeting on 9 November, Ipswich City Council voted to proceed with the acquisition of the complex, following confirmation from the Queensland Government of full reimbursement for all buy-back related costs.
Following a homeowner’s agreement to a buy-back, the program funds the local council to purchase the land. All homes purchased are demolished or removed, and the land is then rezoned to an appropriate, non-occupied use, such as green space.
Under the VHBB program, all registered homeowners receive two valuations of the property, including a pre-flood and current market value.
Federal Member for Blair Shayne Neumann said, “It’s fantastic that valuation inspections of the Mi Hi Grove properties registered for the Voluntary Home Buy-Back program have now been undertaken.
“I advocated strongly on behalf of Mi Hi Grove residents to Federal Emergency Management Minister Senator Murray Watt and Deputy Premier Steven Miles, and I’m pleased that they listened and acted.”