CLB And Public Discuss NFIP Issue At Special Meeting

No decision was made by the CLB Tuesday night as to whether or not to cancel the county’s participation in the National Flood Insurance Program. The county has been with that program since 1988, which allows those in flood prone areas to get flood insurance at a much lower rate than from the private marketplace.

However, the county is now learning that there are drawbacks with that program. After a flood, to be in compliance with the National Flood Insurance Program, homes that are being rebuilt in a floodplain or flood prone area have to meet certain criteria to prevent more damage in the future. That means many homeowners that are currently rebuilding that did not know about that criteria, would have to stop construction and start over. Many have already invested money into repairs and rebuilding, and could see that money go down the drain. Something most cannot addord to do. Numerous homeowners made that point during the meeting Tuesday night.

If the county gets out of the National Flood Insurance Program, those repairs could continue as is. However, homeowners would have to get flood insurance through the private marketplace which can be much more expensive. In some cases, four times as much as they are currently paying with the county participating in the NFIP. The county could also lose some federal funding that is helping with recovery efforts. Cocke County would be the only county in the state to not be in the NFIP if it chooses to get out of that program.

No decision was made last night by the CLB as they wanted to outline the options that the county and homeowners have. There will be another meeting to discuss the issue further, but a date for that meeting was not set last night.