§ 26-15. Repetitive loss structures.

Latest version.

The community may declare any existing structure as a repetitive loss structure as required to qualify the structure for increased cost of compliance (ICC) benefits allowed by a National Flood Insurance Program flood policy claim. To be declared a repetitive loss structure, the following conditions must be met:
(1)

The structure must have a flood insurance policy that includes the increased cost of compliance coverage and;

(2)

The structure must have been flooded twice during a ten-year period with each flood event causing damage for which the repair cost equaled or exceeded 25 percent of the market value of the structure.

(Ord. of 11-14-2011, art. 3, § I)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');