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This group is focused on topics related to recovery from disasters and other significant stressors

This group is focused on topics related to recovery from disasters and other significant stressors

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recovery@m.resiliencesystem.org

Coastal, Riverbank Homeowners Brace for U.S. Flood Insurance Hike

      

A home destroyed during the landfall of Superstorm Sandy is pictured in Mantoloking, New Jersey March 22, 2013.  Credit: REUTERS/Lucas Jackson

reuters.com - by Barbara Liston - September 24, 2013

(Reuters) - More than a million homeowners living in older houses along the coastlines and riverbanks of the United States are being jolted by federal flood insurance rate hikes under a law passed in the wake of devastating storms.

Carol Giovannoni, 51, of St. Pete Beach, a barrier island community off Florida's west coast, is one of the people dreading October 1, when the law takes effect. Giovannoni said the annual flood insurance premium on her standard 1950s concrete-block, ranch-style home on the waterfront will jump from $1,700 to $15,000 over the next few years.

(READ COMPLETE ARTICLE)

CLICK HERE - Flood Insurance Reform Act of 2012

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State of Maryland Action Plan for Disaster Recovery Community Development Block Grant Program

Submitted to HUD on June 10, 2013......

...Based on damage assessments conducted by the Federal government and the declaration that Somerset County was eligible for Individual Assistance, the Maryland Department of Housing and Community Development (DHCD) was allocated $8,640,000 to undertake recovery efforts in the County under the first tranche of funding.

In order to receive this funding, the State is required to submit an Action Plan which is an Amendment to the State’s Consoldiated Plan. The Consolidated Plan is a five-year planning document required by HUD that sets out overall State wide goals and priorities for housing, community development, and economic development activities. Special emphasis is given under the Plan to provide assistance for extremely low, low, and moderate income persons. A substantial amendment is made to the Consolidated Plan when certain conditions are met, including the award of disaster relief funding.

Based on consultation with local government officials in Somerset County, the highly impacted municipality of Crisfield and other local stakeholders, the State has decided to do, as HUD allows, a Partial Action Plan, which will allocate $4.4 million of the $8.6 million at this time......

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