06-23-08 Drainage and Flooding Committee Minutes

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up to $30,000 to help cover elevation, relocation, demolition, and (for nonresidential buildings) floodproofmg. The building's flood insurance policy must have been in effect during the flood. This payment is in addition to the damage claim payment that would be made under the regular policy coverage, as long as the total claim does not exceed $250,000. Claims must be accompanied by a substantial damage determination made by the local floodplain administrator. Coverage under the ICC does have limitations: · It covers only damage caused by a flood; · The building's flood insurance policy must have been in effect during the flood; · ICC payments are limited to $30,000 per structure; · The structure must have a substantial damage determination - in which case flood damage equals or exceeds 50% of the home's market value, or a repetitive damage determination - which means that the house is on FEMA's repetitive flood loss list. The local floodplain administrator makes these determinations, and; · The structure must be located in an A flood zone. Most, if not all homes in the Brookglen study area are located in the X zone and therefore are not eligible for the ICC funding, unless the City amends its development regulations as noted in Section V of this report. C. Rebates: A rebate is a grant in which the costs are shared by the homeowner and another source, such as the local government, usually given to a property owner after a project has been completed. Many communities favor it because the owner handles all the design details, contracting, and payment before the community makes a fmal commitment. The owner ensures that the project meets all of the program's criteria, has the project constructed, and then goes to the community for the rebate after the completed project passes inspection. Rebates are more successful where the cost of the project is relatively small, e.g., under $5,000, because the owner is more likely to be able to afford to fmance the bulk of the cost; the rebate acts more as an incentive, rather than as needed financial support. More information on rebates can be found in the Corps of Engineers' report Local Flood Proofing Programs found at www.nwo.usace.army.milJnfpc/other.html. See Appendix C, page 33, for more information on funding sources Step 4: Coordination The following agencies and organizations were contacted by the UNO-CHART team: · La Porte Office of Emergency Management · La Porte City Council Flood Committee · La Porte Public Works Department Brookglen Area Analysis - DRAFT 27 9/812008