Authorizes municipalities to purchase private residential real property located in a floodplain

This bill allows cities, towns, and villages in New York to purchase homes located in flood-prone areas. Municipalities may buy such properties at pre-flood market value, demolish structures on them, and convert the land into public open space. Homeowners aren't forced to sell but may need to elevate buildings on their property as an alternative to relocation. The bill covers standard purchase costs (appraisals, closing fees) while requiring sellers to clear mortgages and cover moving expenses.