8/15/1994 - Laserfiche WebLink

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- M on concerns expressed by the construction community, as well as individuals building houses, that it added a cost that we did not really need. Recently the FEMA representative met with members of our Professional Services Advisory Committee (PSAC) and staff and tried to explain that while there are added construction costs initially, in the long term there is savings for the homeowner on insurance premiums because FEMA gives discounts for properties with structures elevated higher than the minimum. They gave an example: a $100,000 house with $50,000 content coverage with a 1 -foot freeboard would save $105 annually. Another indirect benefit is that if we require structures to be constructed above the minimum and reach a certain threshold of points county -wide, there is a reduction of premiums. Until now we have succeeded in getting a 5 percent reduction for flood insurance premiums in the county. If we were at the next level, which is one foot, this could be reduced by another 5 percent for a total 10 percent reduction county -wide. Mr. DeBlois reported that the members of Professional Services Advisory Committee were concerned about added construction costs and up -front costs. They were also concerned about relationship of structures in that requiring one foot elevation for new construction may affect the houses next door. Engineering staff did a survey and there really is not that much difference in what people are having built now. Another important point is that if the structure is elevated half a foot (.5 foot), they round it up to a foot, so points are accumulated and there is a reduction in premiums. With that understanding, the PSAC recommended that we require the .5 foot rather than the full one foot and still receive the benefit of lowered insurance premiums, and the Planning & Zoning Commission (P&Z) concurred with that viewpoint. County Engineer Roger Cain advised that information from local suppliers indicated that it would cost about $1100 to raise the elevation to one foot for an average 2,000 -square -foot house. There are also requirements from the State HRS on elevation with septic tanks and requirements for development of subdivisions for type B stormwater permits and cut and fill balance in the flood plain which gives the same effect. Commissioner Bird led discussion regarding the economic impact of the requirement. He realized that it would add to safety and health but the economic impact is an unknown factor. Commissioner Eggert noted that staff indicated that six inches or half a foot will provide a benefit to insurance premiums. Commissioner Macht commented that the revision will affect the cost of affordable housing. 15 August 15, 1994 @8GK �� •�CE ��