Business & Finance

Superstorm Sandy Victims Get 3 More Years to Flood-Proof Their Homes

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WASHINGTON, DC — Homeowners still in need of flood-proofing their Superstorm Sandy-damaged homes have another three years to complete their projects.

The Federal Emergency Management Agency (FEMA) has extended the October 29 deadline for completion of Increased Cost of Compliance (ICC) projects. Under the National Flood Insurance Program, homeowners in flood-prone areas of the state pay an annual premium for ICC coverage, which provides up to $30,000 toward the cost of ensuring their homes comply with state or local floodplain requirements.

FEMA’s April 16 decision comes less than a month after 13 members of the New Jersey legislative delegation wrote to FEMA Administrator William “Brock” Long requesting a one-year extension.

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“The survivors of Superstorm Sandy have been through almost unimaginable trials and tribulations over the past five and one-half years — from chronic underpayment of flood insurance proceeds to a broken state-run rebuilding program,” according to a letter signed by Sens. Robert Menendez and Cory Booker and 11 members of Congress, including Rep. Chris Smith, (R-4th Dist.).

“They paid premiums into ICC — many for decades — and they should not be cut off from receiving this badly needed assistance due to an arbitrary deadline,” the letter said.

Instead, FEMA granted them three additional years to finish these projects — from elevating or moving their homes — after many have experienced long delays in recovering from the historic storm of October 29, 2012.

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