Res 2021-064/approving Substantial Amendment No. 10 to the Community Development Block Grant-Disaster Recovery (CDBG-DR) Action Plan

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the total costs to repair are not fully known at this time and that the majority of the impacted units are less than 50% damaged, it should be noted that the final costs may deviate significantly from this estimate. Therefore, this number should be seen as the maximum cost to repair at this point in time. Once firm costs to repair are determined, and additional NFIP payout information is included, this damage estimate will most likely change. None 0% $0.00 136 $0.00 Affected 25% $20,044.00 506 $10,142,264.00 Minor 50% Major 750/ Severe 100% $40,088.00 315 $12,627,720.00 $60,132.00 180 $10,823,760.00 $80,176.00 109 $8,739,184.00 This total does not include the 136 homes in the area that received no structural damage to the main housing unit or were below the damage threshold established by FEMA. Insurance Proceeds Standard homeowner's insurance does not cover flooding; however, it is important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S., FEMA created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding. Properties that were located in the FEMA flood zone along the Blanco and San Marcos Rivers were able to collect insurance proceeds from the NFIP. To date, NFIP claims have been processed for 503 properties (409 owner occupied and 94 rental). This represents potentially an additional $28,901,437 in funding that has been provided to the citizens of the City to assist with their flood recovery, and will reduce the overall unmet need for housing. FEMA data shows that 1,103 of the 5,102 owner occupied units (city-wide) applied for assistance immediately after the floods. Of these homes, 1,013 units (from all sources: 925 FEMA IA, 88 SBA,) have already received either Individual Assistance or payouts from other sources including insurance or SBA loans. This leaves 90 of the FEMA applicants with no current source of rehabilitation funding, and the City may need to provide assistance to these families under this CDBG-DR allocation. Based upon the SBA data, the current cost to repair homes to a pre -flood state is approximately $80,176. Once their level of damage has been accurately determined, the remaining need for these affected homeowners may be as high as $7,215,840. Last Updated 3/03/20 Page 21 of 63