Call WCC: 919-735-5151

How to Get Additional Funding to Mitigate Damage to Your Home or Business

Release date: March 21, 2017
Release Number: NR 124

If local building officials notified you that your home is substantially damaged, you may be able to receive funds to make your structure safer and stronger.

If you are rebuilding or repairing a substantially damaged home or business, your community may require you to elevate or make other changes. Substantial damage applies when the cost of restoring a structure equals or exceeds 50 percent of its pre-damage market value. However, some communities have regulations that are more restrictive. Check with your local building officials or community flood-plain administrator for more information.

If the substantial damage is solely from flooding, your National Flood Insurance Program (NFIP) policy may provide up to $30,000 to update your structure so it meets local flood-plain management regulations. To apply, you must first submit a signed Increased Cost of Compliance (ICC) Proof of Loss form to your insurance company.

To be considered for an ICC claim, your insurance company needs a contractor’s estimate for the proposed ICC-eligible measures to your home or business and copies of construction permits.

Structures that comply with flood-plain management regulations have an enhanced ability to withstand storms and floods. Mitigation measures eligible for ICC include elevation, relocation, demolition and flood proofing.

You have six years from the date of loss to complete the chosen and approved ICC measures.

The U.S. Small Business Administration (SBA) may be another source of funds if your home or business was determined to be substantially damaged.

If you applied for an SBA Home Disaster Loan or Business Physical Disaster Loan and your
application was approved, you may be eligible for additional funds to pay for improvements that will protect your property against future damage. The funds can be up to 20 percent of the amount of the approved loan.

For more information, call the SBA at 800-659-2955 or TTY 800-877-8339. You may also go online to sba.gov/disaster.

For more information on North Carolina’s recovery, visit fema.gov/disaster/4285 and readync.org. Follow FEMA on Twitter at @femaregion4 and North Carolina Emergency Management @NCEmergency.

###

Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-3362 or TTY at 800-462-7585.

FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards. Follow FEMA on twitter at @femaregion4. Download the FEMA app with tools and tips to keep you safe before, during, and after disasters.

Dial 2-1-1 or 888-892-1162 to speak with a trained call specialist about questions you have regarding Hurricane Matthew; the service is free, confidential and available in any language. They can help direct you to resources. Call 5-1-1 or 877-511-4662 for the latest road conditions or check the ReadyNC mobile app, which also has real-time shelter and evacuation information. For updates on Hurricane Matthew impacts and relief efforts, go to ReadyNC.org or follow N.C. Emergency Management on Twitter and Facebook. People or organizations that want to help ensure North Carolina recovers can visit NCdisasterrelief.org or text NCRecovers to 30306.

The U.S. Small Business Administration (SBA) is the federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps homeowners, renters, businesses of all sizes, and private non-profit organizations fund repairs or rebuilding efforts and cover the cost of replacing lost or disaster-damaged personal property. These disaster loans cover losses not fully compensated by insurance or other recoveries and do not duplicate benefits of other agencies or organizations. For more information, applicants may contact SBA’s Customer Service Center by calling (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/disaster. Deaf and hard-of-hearing individuals may call (800) 877-8339.