YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Federal Emergency Management Agency requires that homes classified as substantially damaged comply with FEMA’s standards for new homes.
That classification is assigned if rebuilding costs exceed 50 percent of a home’s value, or if cumulative construction costs for a 10-year period equal or exceed 50 percent of the home’s value.
None of the 16 homes along Lake Taneycomo inspected by the city are classified as substantially damaged at this time, according to a city news release. All homeowners, however, are required to obtain flood plain permits and building permits before they begin work to determine whether a home is substantially damaged.
This story originally appeared in SBJ’s June 2 free e-news Daily Update. Click here to register.
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