Comparative study of buyouts in the US and New Zealand: The acquisition and removal of hazard-prone housing

Smith, Professor of Landscape Architecture and Environmental Planning, discussed his study of the acquisition and removal of hazard-prone housing in the US and New Zealand. Smith explained how buyouts are a key strategy to reduce natural hazard risk and improve climate change adaptation. Smith concluded the presentation with the findings of the study and next steps. The findings included micromanaged vs. uncertain funding, "voluntary" buyouts, decoupling planning and grants management, regenerations plans vs. open space, and poor lesson-drawing across countries. Next steps included innovative buyouts, FEMA-supported open space management guide, and New Zealand's “Managed Retreat and Climate Change Adaptation Act”.