Severe Repetitive Loss Program
The purpose of the Severe Repetitive Loss (SRL) Program is to eliminate or reduce the damage to property and the disruption to life caused by repeated flooding. AT THIS TIME, RULES HAVE NOT BEEN WRITTEN FOR THIS PROGRAM; HOWEVER, BASED ON AVAILABLE INFORMATION THE PROGRAM SHOULD BE SUBSTANTIALLY SIMILAR TO THE DESCRIPTION BELOW.
Eligible flood mitigation project activities include Floodproofing (historical properties only); Relocation; Elevation; Acquisition; Mitigation reconstruction (demolition rebuild); and Minor physical localized flood control projects.
Eligible SRL Properties are residential properties that have at least four NFIP claim payments over $5,000 each, when at least two such claims have occurred within any ten-year period, and the cumulative amount of such claims payments exceeds $20,000; or for which at least two separate claims payments have been made with the cumulative amount of the building portion of such claims exceeding the value of the property, when two such claims have occurred within any ten-year period.
- Funding: Authorized up to $40 million for each fiscal year 2005 through 2009
- Federal / Non-Federal cost share: 75 / 25 %; up to 90 % Federal cost-share
- The program is voluntary and nationally competitive
- Projects must meet benefit-cost, environmental, and other federal, state and local criteria
- Potential properties for this program must meet the SRL definition above
- Potential properties for this program must be currently insured under the NFIP
- The program is administered by the state
The Fiscal Year 2007 SRL Program is currently under development.
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