To follow-up on my previous post, on November 8, the Lee County Commissioners considered several changes to facilitate repairs to buildings damaged by Hurricane Ian. The most significant changes involve how the “50% Rule” will be calculated.
The calculations for the 50% Rule along with other guidelines relating to the 50% rule are based on local regulation. Lee County Board of Commissioners were presented with and approved the following changes:
- Allowing for a “permit-by-permit” valuation of the cost of repairs. The past County regulations required a cumulative consideration of improvements made over the previous 5 years. This change would not apply to “repetitive loss” properties that have received two or more NFIP payouts in excess of $1000 over a 10-year period.
- Amending cumulative period for “repetitive loss” properties from 5 years to 1 year for 50% calculation.
- Updating elevation requirements for manufactured homes in special flood hazard areas and coastal high hazard areas.
- Amendment reflecting that the newest version of FEMA flood insurance rate maps for Lee County take effect November, 17, 2022.
Continue Reading Outcome of November 8 Lee County’s Meeting Regarding 50% Rule for Hurricane Ian Repairs