DANSVILLE – Village Mayor Pete Vogt says that sky-high flood insurance rates have the potential to make the local real estate market a little soggy.
A potential property owner who takes out a loan on a property in what FEMA considers an area with a high flooding risk must then purchase flood insurance. Vogt says that since disastrous storms like Katrina and Sandy, FEMA is redrawing maps to include many more properties in ‘flood zones’ than in past years.
“FEMA’s requirements for insurance have the potential to cause an economic decline in areas of Dansville,” said Vogt. “One house in the area required to get the insurance was recently auctioned at half price. This affects some 200 parcels in the Village.”
As of 9:44 a.m. Monday, FEMA’s media contact number forwarded to their emergency assistance department. Ultimately, no one could tell reporters whether FEMA ever requires homeowners to purchase flood insurance.
The Village is trying to reduce the area that FEMA considers high-risk.
Neither stream flooded in 1972 during Agnes, the worst storm we’ve had in my lifetime. . That’s the reason we’re clearing out trees and brush upstream.
“There are two streams to our east. Neither flooded during Agnes, the worst storm in my lifetime,” said Vogt. “We’re doing flood control like cutting dead wood in an area upstream because there was minor flooding of one stream due to clogging at an underpass.”
FEMA’s press release on spring flood preparation is available here.