In an effort to better inform and assist residents, the City of Gulfport has launched a dedicated webpage on the City’s website providing information about the Federal Emergency Management Agency’s (FEMA) 50% Rule.
This initiative is part of the City of Gulfport commitment to ensuring that property owners, developers, and builders have the resources they need to navigate floodplain regulations and make informed decisions regarding property improvements.
The FEMA 50% Rule, also known as the “Substantial Improvement/Substantial Damage Rule,” plays a crucial role in determining how structures in designated flood zones can be repaired or renovated. This rule requires that if the cost of improvements or repairs to a building equals or exceeds 50% of the building’s market value, the entire structure must comply with current floodplain management regulations.
The new webpage provides explanations of the rule, its impact on property owners, and informational guidance for compliance.
Key Features of the Webpage Include:
- Overview of the FEMA 50% Rule: An explanation of how the rule applies to both residential and commercial properties located in flood-prone areas.
- Step-by-Step Guidance: A comprehensive FEMA guide outlining the necessary steps for compliance, from calculating market value to determining the cost of repairs or improvements.
- Frequently Asked Questions (FAQs): Answers to common questions about the rule’s application, exemptions, and what to do if your property has sustained damage from flooding or other natural disasters.
Mayor Henderson emphasized the importance of this new resource: “Our City is committed to helping residents and businesses understand FEMA regulations that may affect their properties. By launching this webpage, we are empowering our community to make informed decisions that safeguard their investments and ensure compliance with federal flood standards.”