[StBernard] FEMA Grants State of Louisiana’s Request to Extend ICC Deadline for Homeowners
Westley at da-parish.com
Thu Mar 26 16:13:44 EDT 2009
FEMA Grants State of Louisiana's Request to Extend ICC Deadline for Homeowners
BATON ROUGE, La. - At the request of the state of Louisiana, FEMA will give homeowners three more years to complete repair and mitigation work, including home elevations, under the Increased Cost of Compliance (ICC) aspect of the National Flood Insurance Program (NFIP).
The new ICC deadline for hurricanes Katrina, Rita and Wilma in 2005 is now seven years from the date of each storm.
"The state is proud to have invested hundreds of millions in homeowners to allow them to protect their houses from future flooding, but we recognized that because of the catastrophic nature of having four hurricanes in three years, homeowners needed more time to complete their work," said Paul Rainwater, executive director of the Louisiana Recovery Authority. "It became clear to us that without an extension, homeowners could potentially be forgoing a large part of their flood insurance policies that could help elevate their homes because they couldn't get the necessary Road Home and Hazard Mitigation funding in time to complete the repairs."
Louisiana has made a strong commitment to home elevation in the wake of the devastating hurricanes, providing $763 million to 26,348 homeowners for elevation through the Road Home program. Another 1,083 applicants are in line to close on $30.6 million in Road Home elevation funding.
Citing the catastrophic losses from the 2005 hurricanes and other impediments to rebuilding - including additional home damage because of hurricanes Gustav and Ike, a shortage of contractors to complete work and individuals' lack of funding to complete the work to their homes - Rainwater requested the extension of FEMA at the beginning of March. The state anticipated 5,000 homeowners could have been adversely affected by the old deadline.
ICC coverage is a standard part of most flood insurance policies offered through the NFIP. It provides up to $30,000 to help pay for mitigation measures that will protect a home from future flooding. Typically, homeowners have two years to complete such work. The state had requested and received an extension once already so that homeowners had to complete work by Aug. 29 of this year.
Created in the aftermath of Hurricane Katrina and Hurricane Rita in 2005, the Louisiana Recovery Authority (LRA) is the coordinating and planning body leading the most extensive rebuilding effort in American history. The central point for hurricane recovery in Louisiana, the LRA works closely with the Governor's Office of Homeland Security and Emergency Preparedness (GOHSEP) and partners with state and federal agencies to oversee more than $20 billion worth of programs, speed the pace of rebuilding, remove hurdles and red tape and ensure that Louisiana recovers safer and stronger than before. For more information about the LRA and its 17-member board, visit lra.louisiana.gov.
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