County addresses increases in flood insurance
By Lucas Vance, The Herald Independent, Winnsboro, S.C. | |
McClatchy-Tribune Information Services |
Recent federal legislation has been passed, which would increase premiums for flood insurance.
The legislation that has been proposed will remove the subsidies and the cost will be passed on to the homeowners at an astronomical cost.
"There was an outcry across the country because the new maps that
Homeowners living near bodies of water will be more exposed and under the flood insurance program, those premiums will no longer be subsidized federally.
Pope acknowledged that effect has reverberated in
"For us in the county we brought in
County staff has been in discussions with
"Our staffs have had those discussions where we are working collaboratively to draft an RFQ (request for a quotation) to propose a flood study," Pope told council.
Once the RFQ is submitted, Pope advised that he would be coming back to council with the information.
The study would not only consist of
"The goal of this flood study is to lower the base flood elevation of
Pope said council would be updated as the process moves forward and any costs necessary to be expended would be brought back to council for approval.
Councilwoman
She noted that
"That (
She continued to advise residents that they would not know if they are required to purchase flood insurance until you buy home or refinance.
"That's when you're going to find out (if you're required to purchase flood insurance)," Robinson said. "If you don't buy it, then the companies are going to buy it for you and you're still going to pay for it in your monthly payment."
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