According to The New York Times, New York Governor Andrew M. Cuomo is proposing to spend as much as $400 million to purchase homes wrecked by Hurricane Sandy, have them demolished, and then preserve the flood-prone land permanently as undeveloped coastline. Some properties could be turned into dunes, wetlands, or other natural buffers that would help protect coastal communities from ferocious storms; other parcels could be combined and turned into public parkland.
To learn more: http://www.nytimes.com/2013/02/04/nyregion/cuomo-seeking-home-buyouts-in-flood-zones.html?hp=&_r=3&