§ 11-16. Repetitive loss structures.

The community may declare any existing structure as a repetitive loss structure as required to qualify the structure for increased cost of compliance (ICC) benefits allowed by a National Flood Insurance Program flood policy claim. To be declared a repetitive loss structure, the following conditions must be met:

(1)

The structure must have a flood insurance policy that includes the increased cost of compliance coverage;

(2)

The structure must have been flooded twice during a ten-year period with each flood event causing damage for which the repair cost equaled or exceeded twenty-five (25) percent of the market value of the structure; and

(3)

The owner, or representative, shall request the declaration in writing and provide supporting documentation to show that the above requirements have been met.

(Ord. of 2-2-10(1), § 2)