Restoring your home after a storm? Additions, renovations, or remodeling your home? Here’s what YOU need to know about the 50% Rule. Save yourself time, aggravation and money. Please read the following information:
If a building is “substantially damaged” or “substantially improved”, it must be brought into compliance with the latest federal, state and local floodplain regulations, including elevating the building to or above the 100-year flood elevation.
Substantial Damage means damage of any origin sustained by a structure whereby the cost of restoring the structure to it’s before damage condition would equal or exceed 50 percent of the market value or replacement cost of the structure before the damage occurred. (Note: The cost of the repairs must include all costs necessary to fully repair the structure to it’s before damage condition)
Substantial Improvement means any reconstruction, rehabilitation, addition or other improvement of a structure, the cost of which equals or exceeds 50 percent of the market value of the structure before the “start of construction” of the improvement.
If a building is “substantially damaged” or “substantially improved”, it must be brought into compliance with the community’s flood damage prevention regulations, including elevating the building to or above the 100-year flood elevation.
Following National Flood Insurance Program requirements, we have the responsibility to determine “substantial damage” and “substantial improvement” and have implemented the following procedures to do so:
Items to Be Included for Determination of Substantial Damage/Improvement
All structural elements including:
All interior finish elements, including:
All utility and service equipment, including:
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