Town leaders worry Princeville will cease to exist post-Matthew

PRINCEVILLE, NC (AP) – Residents in the Hurricane Matthew-flooded town of Princeville have been given three choices about their property.

WTVD-TV reported that commissioners in the town founded by former slaves in 1885 decided residents should be allowed to consider all three options from the Federal Emergency Management Agency.

Town officials say more than half of the 750 homes suffered flood damage.

FEMA says residents could chose to raise their homes above the flood plain, if possible or rebuild homes above the flood plain or take a buyout, where the federal government would buy the property and convert it to greenspace that can never be used for homes.

Town officials worry that if many people take the buyout, the town might cease to exist because of the loss of taxable property.