The Road Home Elevation Incentive

The Road Home program is designed to compensate Louisiana homeowners whose property was affected by Hurricanes Katrina and Rita. It is the largest single housing recovery program in U.S. history and awards homeowners up to a maximum of $150,000 in compensation so that they can return to their homes as quickly and fairly as possible.

The Road Home Elevation Incentive is a part of The Road Home Program. It provides funds as an incentive for homeowners to elevate homes in order to meet the local Base Flood Elevation (BFE) or Advisory Base Flood Elevation (ABFE).

Based on the structure type of a home, site-built homes qualify for a maximum of $30,000. Mobile homes qualify for $20,000. The Road Home Elevation Incentive can be used in combination with other federal grants such as the State HMGP Award and the ICC fund. However the funds received from the Road Home Elevation Incentive in combination with the HMGP and ICC awards cannot exceed the cost of the elevation. For example, if the cost to elevate a home is $40,000 and the homeowner has received $30,000 from an ICC award for the ele- vation, then the homeowner would only be eligible for $10,000 from The Road Home Elevation Incentive.

OCD-DRU HMGP

HMGP is a federally-funded program adminis- tered through the State of Louisiana’s Office of Community Development/Disaster Recover Unit.

The State HMGP Award provides up to $100,000 to FEMA eligible homeowners to elevate their homes in order to meet the local Base Flood Elevation (BFE) or Advisory Base Flood Elevation (ABFE).

This grant is based on actual construction costs of the elevation rather than a fixed amount.

For example: If the cost to elevate a home is $100,000 and the homeowner has received $20,000 from ICC and $30,000 from the Road Home, they will still be eligible to receive up to $30,000 from the State HMGP Award, provided they meet the requirements of the HMGP.

In order to be considered for the State HMGP Award a home- owner must meet the following criteria:

• Eligible participant in the Road Home programs and selected Option 1 (Keep their home)
• Homeowner still owns the home that was eligible for Road Home benefits or has acquired the home along with an assignment of rights.
• The structure is located in a FEMA-designated ABFE or the mitigation activity is deemed cost benefi- cial according to FEMA guidelines.
• Homeowner agrees to comply with all Hazard Mitigation Grant Program regulations as set forth by OCD-DRU, GOHSEP and FEMA.

Increased Cost of Compliance (ICC)

ICC funding is not a loan and does not have to be repaid. It is managed by the National Flood Insurance Program and is available to property owners who carry new and renewed Standard Flood Insurance Poli- cies. It helps homeowners meet the costs of repairing or rebuilding their property in order to comply with building requirements of their community and reduce future flood damage. The maximum amount a homeowner can receive is $30,000 and is based on a proof of loss, a detailed re- pair estimate and a substantial damage declaration from the community. ICC funding can be used to pay for:

• The elevation of a home above the flood elevation level adopted by the community,
• The relocation of a home out of harm’s way
• The demolition and removal of a damaged home

Eligibility requirements include:

• Location in a flood plain
• Property has suffered substantial damage from a flood
• Property has had repeated damage by floods

A single-family dwelling is available for a maximum combined amount of $250,000 from both the ICC and flood insurance.

For more information about ICC funding, contact your Flood Insurance Carrier or the National Flood In- surance Program: 1-800-638-6620.

Definitions/Terms

Elevating a Home — raising the lowest floor to comply with FEMA HMGP required height so that floodwater flows under the house rather than through it.

HMGP – Hazard Mitigation Grant Program administered through the State of Louisiana’s Office of Community Development/Disaster Recover Unit.

FEMA – Federal Emergency Management Agency managed under the U.S. Department of Homeland Security.

ABFE – Advisory Base Flood Elevation

BFE – Base Flood Elevation

(The ABFE or BFE is determined by FEMA and establishes a height, in relation to the mean sea level, that has a one percent chance or greater of flooding in a given year. Once an ABFE is adopted by a local munici- pality it becomes a BFE.)

NFIP – National Flood Insurance Program administered through FEMA.

ICC — Increased Cost of Compliance coverage managed by the NFIP.

OCD-DRU — Office of Community Development-Disaster Recovery Unit

Substantially Damaged by a flood—repairs will cost 50% or more of the building’s pre-damage market value)

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