Flooding is increasing across the U.S.
Since Hurricane Sandy in 2012, there have been five major hurricanes and severe flooding affecting the entire U.S.
Hurricane Sandy alone damaged or destroyed over 650,000 homes and affected over six million American’s.
Families, livelihoods and business have all taken big and unnecessary (certainly preventable) hits.
An estimated 3,000,000 older & historic buildings in US flood zones have a high risk of flooding
What is currently happening:
Rehab & Rebuild For Any Home Less Than 50% Damaged.
So rather than protecting homes from flooding…we are simply waiting for them to be damaged or destroyed so they can then be rebuilt.
(due to not meeting the 50% damage level)
Resulting in:
A Wasteful Pattern Of Flooding And Rebuilding + Increasing Flood Insurance Rates.
We have the knowledge, tools and industry talent to prevent this vicious cycle. We just need support from the government to ensure homeowners have the option to elevate, before it’s too late.
We Know What Needs To Be Done…
…Elevation Is The Answer
These houses need a funding source so they can be rehabbed and elevated above the base flood elevation. Bottom line, when you elevate an affected home in a known flood plain, you protect that home from destruction and avoid the wasteful and painful cycle of flood, rebuild and repeat.
COMING IN 2021
The National Flood Insurance Plan (NFIP) Is Developing Risk Rating 2.0
Risk Rating 2.0 will fundamentally change the way FEMA rates property flood risk as well as how they price insurance. FEMA-NFIP will move away from floodplain maps and into more predicative computer modelling at actual risk rates. Risk Rating 2.0 aims to strengthen NFIP fiscal stability by increasing revenue through premiums that more accurately reflect property flood risk. To make the NFIP more actuarially sound, Risk Rating 2.0 will mean higher premiums for higher risk, and lower premiums for lower risk.
We support an evolved NFIP program that provides the following:
$60,000 ICC available for ANY flood claim
$2B available for 5 YEARS for pre-disaster hazard mitigation programs with a prioritization on flood mitigation of buildings.
(Not including drainage projects that do not reduce flood insurance rates.)
State revolving low interest long term loan program
For elevation and dry flood proofing of the millions of buildings with increasing flood risk and flood insurance rates. The building owners will borrow this money and pay it back for the peace of mind in knowing they are protected from flooding and have preserved property values (and history) for having done so.
FLOOD MITIGATION / ELEVATION
Saves $8 for every $1 spent on mitigation
Engages multiple construction trades & labor
Environmentally responsible & sustainable
Saves natural resources
Preserves historic buildings
Stabilizes the real estate market & property values
Preserves property tax revenues
Keeps the community together
Protects homes, families and livelihoods
The updated NFIP must be passed.
Elevation is the BEST option. We must elevate, before it’s too late.
Contact the IASM to see how you can get more involved.