[caption id="attachment_63492" align="aligncenter" width="665"] Sinkhole Buyouts For Louisiana Homeowners[/caption]Louisiana Homeowners Receiving Sinkhole Buyouts

Louisiana governor Bobby Jindal has announced that homeowners in Assumption Parish who had to evacuate their homes due to a growing nine-acre sinkhole will receive buyout payments from the Texas Brine Co. of Houston.

Texas Brine was responsible for operating underground salt caverns in a very swampy area of land which led to the growth of the dangerous sinkhole, which caused the evacuation of more than 300 individuals living in the vicinity.

Jindal himself negotiated a settlement to offer displaced homeowners buyouts for their destroyed properties, indicating that since Texas Brine caused the problem when the caverns they built collapsed, they would also be financially responsible for fixing it. Many homeowners have been forced to live elsewhere since last fall.

“Our legal counsel was able to bring the governor up to speed on where things stand with the current legal filings and explain that Texas Brine is preparing to engage either directly or through counsel with those residents interested in discussing a possible resolution to their claims,” explained Texas Brine president Ted Grabowski.

According to reports, Texas Brine will be required to abide by all regulations set forth by US District Judge Jay C. Zainey before following through with the company’s sinkhole buyout initiation.

"What we're looking forward to is trying to get some relief for the residents of Bayou Corne who have been fighting this for seven months, who have been relocated, living in trailer parks and other locations outside their home. And we want these people to have the financial wherewithal to be able to relocate and move on with their lives," said Assumption Parish Police Jury President Marty Triche, who attended Wednesday's meeting.

The area where the buyouts are necessary are located south of Baton Rouge. Assessors were being sent out to evaluate the condition of more than 150 homes so that buyout offers could be made.

On The Web:

Sinkhole buyouts await evacuated Louisiana homeowners
http://www.csmonitor.com/Business/Latest-News-Wires/2013/0314/Sinkhole-buyouts-await-evacuated-Louisiana-homeowners

Sinkhole Buyouts Will Be Offered To Assumption Parish Residents
http://www.inquisitr.com/572199/sinkhole-buyouts-will-be-offered-to-assumption-parish-residents/