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The Water Cooler
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Bailing out Florida again
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<blockquote data-quote="dennishoddy" data-source="post: 3869200" data-attributes="member: 5412"><p>Yes. If I remember all the details, for many years along the Mississippi River dikes were built so farmland wouldn’t flood. When levees were breached and flooding happened the Federal Flood Insurance would rebuild the homes and outbuildings. </p><p>According to news reports, generations of families had everything rebuilt many times using the cheap FFI. </p><p>After the massive floods in the early 2000’s that breached many levees the feds changed FFI. It’s cheap the first time you flood out and get rebuilt, but then the insurance goes way up. </p><p>I stand to be corrected but after the third time maybe the second you can no longer get FFI. It forced people to quit building on the flood plaines.</p></blockquote><p></p>
[QUOTE="dennishoddy, post: 3869200, member: 5412"] Yes. If I remember all the details, for many years along the Mississippi River dikes were built so farmland wouldn’t flood. When levees were breached and flooding happened the Federal Flood Insurance would rebuild the homes and outbuildings. According to news reports, generations of families had everything rebuilt many times using the cheap FFI. After the massive floods in the early 2000’s that breached many levees the feds changed FFI. It’s cheap the first time you flood out and get rebuilt, but then the insurance goes way up. I stand to be corrected but after the third time maybe the second you can no longer get FFI. It forced people to quit building on the flood plaines. [/QUOTE]
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Bailing out Florida again
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