Gov. Andrew Cuomo (KWOH'-moh) outlined the planned program during a visit on Monday to Staten Island, where Oakwood Beach is located.
The program calls for the state to pay 100 percent of the pre-storm value for the homes there. Residents who move elsewhere on Staten Island will be eligible for a 5 percent bonus.
So far, 141 of the roughly 200 homeowners in the targeted area have asked for buyouts.
Joseph Tirone (ty-ROHN') leads a neighborhood committee that sought the solution and was among five homeowners who met with Cuomo. He's says the governor's intention is to have everyone bought out by the end of the year.