Small Business Grants

Recent hurricanes highlight gaps in flood insurance system [Video]
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Recent hurricanes highlight gaps in flood insurance system [Video]

Back-to-back hurricanes left behind widespread flood damage across the Southeast, exposing significant gaps in the flood insurance system.There are questions about the financial stability of the National Flood Insurance Program (NFIP), the countrys largest provider, and many Americans impacted by Hurricanes Milton and Helene dont have coverage. “A majority of the population that gets impacted probably won’t have flood insurance and will probably be reliant on much smaller individual assistance and disaster grants from FEMA,” said Jeremy Porter, who leads climate implications research for the First Street Foundation.We analyzed public data on existing NFIP policies and the U.S. Census Bureaus most recent tally of housing units to estimate coverage levels by state. In North Carolina, which saw some of the worst flooding from Helene, only about 3% of homes are actively insured through the federal governments program. NFIP coverage rates are even lower for mountainous, inland areas like Buncombe County, home to hard-hit Asheville. In Florida, where residents in parts of the state are recovering from both Milton and Helene, NFIP uptake is around 17%.Experts say there are several reasons for low coverage, from outdated flood maps that underestimate risk to a lack of awareness. Flood is not part of a regular homeowner’s insurance policy, Porter said. Tom and Marsha James, whose home in Venice, Florida was damaged by recent storms, said they looked into flood insurance but found it unaffordable.”They really kind of practically price you out of it. They make it impossible,” Marsha James said. Porter says participation in the National Flood Insurance Program dropped significantly after premiums increased for some policyholders. The new pricing scheme, led by the Federal Emergency Management Agency, was designed to more accurately reflect a propertys flood risk and address a funding problem. “The National Flood Insurance Program has over 20 billion dollars in debt,” said Chris Graham, a senior industry analyst at AM Best.FEMA says the program has been in the red since 2005 following years of major flooding events. Annual losses skyrocketed in 2017 after Hurricanes Harvey, Maria, and Irma. Its still unclear if a surge in claims from recent storms could push the program past its borrowing limit. Laura Peavy, a spokesperson for the House Financial Services Committee, said NFIP currently has approximately $5 billion in cash on hand and $9.9 billion in borrowing authority remaining. “We’re watching very closely the impact on the National Flood Insurance Program to make sure that we can continue to pay these claims,” FEMA Administrator Deanne Criswell told us in a press briefing on Thursday. FEMA didnt respond to follow-up questions sent via email, including whether Congress would need to return to Capitol Hill before the election to shore up the flood insurance program.The agency provided a statement from Jeff Jackson, the interim Senior Executive of the NFIP, saying, The NFIP has never failed to pay an eligible claim and is committed to working with Congress, if necessary, to ensure that our valued customers can recover quickly and comprehensively. Rep. Garret Graves, a Republican from flood-prone Louisiana, said he has no doubt that lawmakers will help both insured and uninsured Americans recover. “I give you full assurances that Congress will come in and provide additional assistance but what this really does is it highlights some of the fundamental problems with the flood insurance program. It really does need to be revamped,” Graves said. Sen. Rick Scott (R-Florida) has been working on long-term solutions, from tax relief proposals to expanding alternatives to government flood insurance. I have a variety of proposals to create a private insurance market so hopefully our costs can come down, Scott said. In the short term, FEMA is taking steps to help those recovering from recent storms. For survivors of Helene, the agency is extending the grace period for policy renewal without imposing consequences for lapses in coverage. FEMA says policyholders with flood damage should also ask their insurance agent about advance claims payments to kick-start their recovery. Some may be eligible for up to $20,000 prior to a visit from an adjuster. Officials say affected individuals should begin filing their claims now. Evacuated policyholders can begin the process and provide specifics later once local officials say its safe to return home.As for the uninsured, FEMA says there is financial assistance available for property losses but it won’t go as far as a flood insurance policy. Learn more here.

Recent hurricanes highlight gaps in flood insurance system [Video]
►
Categories
Small Business Funding

Recent hurricanes highlight gaps in flood insurance system [Video]

Back-to-back hurricanes left behind widespread flood damage across the Southeast, exposing significant gaps in the flood insurance system.There are questions about the financial stability of the National Flood Insurance Program (NFIP), the countrys largest provider, and many Americans impacted by Hurricanes Milton and Helene dont have coverage. “A majority of the population that gets impacted probably won’t have flood insurance and will probably be reliant on much smaller individual assistance and disaster grants from FEMA,” said Jeremy Porter, who leads climate implications research for the First Street Foundation.We analyzed public data on existing NFIP policies and the U.S. Census Bureaus most recent tally of housing units to estimate coverage levels by state. In North Carolina, which saw some of the worst flooding from Helene, only about 3% of homes are actively insured through the federal governments program. NFIP coverage rates are even lower for mountainous, inland areas like Buncombe County, home to hard-hit Asheville. In Florida, where residents in parts of the state are recovering from both Milton and Helene, NFIP uptake is around 17%.Experts say there are several reasons for low coverage, from outdated flood maps that underestimate risk to a lack of awareness. Flood is not part of a regular homeowner’s insurance policy, Porter said. Tom and Marsha James, whose home in Venice, Florida was damaged by recent storms, said they looked into flood insurance but found it unaffordable.”They really kind of practically price you out of it. They make it impossible,” Marsha James said. Porter says participation in the National Flood Insurance Program dropped significantly after premiums increased for some policyholders. The new pricing scheme, led by the Federal Emergency Management Agency, was designed to more accurately reflect a propertys flood risk and address a funding problem. “The National Flood Insurance Program has over 20 billion dollars in debt,” said Chris Graham, a senior industry analyst at AM Best.FEMA says the program has been in the red since 2005 following years of major flooding events. Annual losses skyrocketed in 2017 after Hurricanes Harvey, Maria, and Irma. Its still unclear if a surge in claims from recent storms could push the program past its borrowing limit. Laura Peavy, a spokesperson for the House Financial Services Committee, said NFIP currently has approximately $5 billion in cash on hand and $9.9 billion in borrowing authority remaining. “We’re watching very closely the impact on the National Flood Insurance Program to make sure that we can continue to pay these claims,” FEMA Administrator Deanne Criswell told us in a press briefing on Thursday. FEMA didnt respond to follow-up questions sent via email, including whether Congress would need to return to Capitol Hill before the election to shore up the flood insurance program.The agency provided a statement from Jeff Jackson, the interim Senior Executive of the NFIP, saying, The NFIP has never failed to pay an eligible claim and is committed to working with Congress, if necessary, to ensure that our valued customers can recover quickly and comprehensively. Rep. Garret Graves, a Republican from flood-prone Louisiana, said he has no doubt that lawmakers will help both insured and uninsured Americans recover. “I give you full assurances that Congress will come in and provide additional assistance but what this really does is it highlights some of the fundamental problems with the flood insurance program. It really does need to be revamped,” Graves said. Sen. Rick Scott (R-Florida) has been working on long-term solutions, from tax relief proposals to expanding alternatives to government flood insurance. I have a variety of proposals to create a private insurance market so hopefully our costs can come down, Scott said. In the short term, FEMA is taking steps to help those recovering from recent storms. For survivors of Helene, the agency is extending the grace period for policy renewal without imposing consequences for lapses in coverage. FEMA says policyholders with flood damage should also ask their insurance agent about advance claims payments to kick-start their recovery. Some may be eligible for up to $20,000 prior to a visit from an adjuster. Officials say affected individuals should begin filing their claims now. Evacuated policyholders can begin the process and provide specifics later once local officials say its safe to return home.As for the uninsured, FEMA says there is financial assistance available for property losses but it won’t go as far as a flood insurance policy. Learn more here.

Small businesses encourage tourism after Helene [Video]
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Small businesses encourage tourism after Helene [Video]

QUALITY TESTS AS RESTORATION AND CLEANUP EFFORTS ARE STILL ONGOING ACROSS WESTERN NORTH CAROLINA. AFTER HELENE, SOME LOCAL BUSINESS OWNERS SAY THEYRE READY FOR TOURISM TO MAKE A COMEBACK. METEOROLOGIST GRIFFIN HARDY REPORTS FROM HENDERSON COUNTY. MANY LOCAL BUSINESSES ACROSS WESTERN NORTH CAROLINA WERE HEAVILY IMPACTED BY HURRICANE HELENE JUST BEFORE WHAT NORMALLY IS THE PEAK OF TOURISM SEASON, BUT ONE LOCAL VINEYARD OWNER HERE IN HENDERSON COUNTY IS ENCOURAGING PEOPLE TO STILL COME. I WAS TELLING OUR TEAM, ITS KIND OF LIKE I WAS IN A DREAM SEQUENCE FOR THE PAST TWO WEEKS, AND NOW IM WAKING UP. TIMOTHY PARKS OF MARKED TREE VINEYARDS SAYS OCTOBER IS NORMALLY THEIR BUSIEST MONTH OF THE YEAR FOR TOURISTS, AND THAT ITS IMPORTANT FOR THOSE THAT CAN TO GET BACK TO A SMALL SENSE OF NORMALCY. PLEASE COME AND SUPPORT SOME OF THE SMALL BUSINESSES SO THAT WAY WE CAN START TO STABILIZE OUR COMMUNITY. SO THAT OTHER COMMUNITIES CAN BE HELPED, THAT ARE IN MORE DIRE NEED. DANIELLE MCCALL OF STEPS, HILLCREST, ORCHARD SAYS HER ORCHARD IS MOSTLY OKAY AFTER THE STORM, BUT REMAINS INACCESSIBLE BY ROAD. TIMOTHY HAS BEEN HELPING HER OUT BY LETTING HER SELL PRODUCT AT HIS VINEYARD. SHE ALSO SAYS THE EASIEST WAY TO HELP IS BY STILL ENCOURAGING TOURISM TO THOSE WANTING TO MAKE A TRIP SAFELY. WHEN POSSIBLE, TO THE MOUNTAINS. THIS FALL. FOR US, IT MAY MEAN MAYBE WERE OPEN LATER IN THE SEASON THIS YEAR THAN WE NORMALLY WOULD BE. AND THATS THE OTHER THING I WOULD SAY. IF YOU CANT COME, IF YOU CAN COME THIS WEEKEND, COME ON. IF YOU CANT COME LATER, THIS MONTH, COME IN NOVEMBER, EVEN IF YOU WOULDNT NORMALLY DO THAT, COME IN DECEMBER. THERES LOTS OF THINGS TO ENJOY IN HENDERSON COUNTY FOR THE REST OF 2024. ITS STILL GORGEOUS HERE. THERE ARE PLACES OPEN. PLEASE COME SUPPORT. SO THAT WE CAN HELP SUPPORT OUR COMMUNITY. REPORTING IN HENDERSON COUNTY.

Floridians return home to clean up from two hurricanes with gas and power in short supply [Video]
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Floridians return home to clean up from two hurricanes with gas and power in short supply [Video]

Surrounded by the damage left behind by hurricanes Helene and Milton, people across Florida are facing the daunting task of cleaning up, but many lack the electricity and fuel to do it.Related video above: Federal government combats misinformation amid hurricane recoveryHampered by roads blocked by fallen trees and flooding, fuel suppliers and power companies are working to get the infrastructure of daily life back up and running and police are aiding recovery efforts by providing escorts to fuel tankers trying to reach those most in need.President Joe Biden will visit Florida to survey the damage after the storm, the White House announced. On Sunday morning, he will take an aerial tour to see some of the most heavily damaged areas, meet with first responders, and speak in St. Petersburg.Here’s the latest: Gas stations still waiting for fuel: Just under 30% of the state’s gas stations have no fuel as of early Sunday, according to the monitoring website GasBuddy.com. In the hard-hit Tampa-St. Petersburg area, more than three-quarters of stations, 77%, are out of gas. In the Sarasota area, 62%. Around Ft. Myers and Naples area, it’s 42%, and in the Orlando area, 35%. More than 37.3 million gallons of fuel have been offloaded at Florida ports, according to Kevin Guthrie, director of the state’s Division of Emergency Management. “We have right now 25 Florida Highway Patrol escorts to rush in the fuel tankers from the port, and so those are being brought in to fill out the stations,” Gov. Ron DeSantis said. Three public fuel sites in Plant City, Bradenton and St. Petersburg have been opened, where customers can receive 10 gallons of gas each for free. The governor said more will be opened on Sunday in Charlotte, Pinellas and Hillsborough counties. Power is gradually being restored: As of early Sunday, 1.25 million people remained out of power across the state, down from a peak of nearly 3 million. Crews from across the country are working to reconnect homes and businesses to the grid. The power companies are estimating most people will have electricity by midweek. St. Petersburg offers gas and charging stations: The city of St. Petersburg has set up temporary stations to help residents in need, with a place to charge their phones and pick up essentials like bottled water, batteries and tarps. The city remains under a boil water notice due to multiple line breaks and 25 crews are on the streets picking up debris. “We have weathered two storms in less than two weeks. This is unprecedented from a debris standpoint but it’s still our top priority to get our city cleaned up and resume to some type of normalcy,” said Mike Jefferis, city enrichment administrator. President Biden approves major disaster declaration: President Joe Biden approved a major disaster declaration for the state on Saturday, according to FEMA. “Federal disaster assistance is available to the state of Florida to supplement recovery efforts in the areas affected by Hurricane Milton” from October 5 onward, a FEMA news release stated. Biden’s approval makes funding available for people in more than 30 counties impacted by Milton, according to the release. The funds include grants for temporary housing and home repairs.Flooding continues to slow down recoveryOngoing flooding issues after Milton dumped 16 inches of rain over Hillsborough County has hindered the area’s recovery from the storm, Hillsborough County Sheriff Chad Chronister said Saturday.”The water doesn’t subside as rapidly as all of us would like, so, this healing, this recovery, is taking a lot longer,” Chronister said.Meanwhile, the National Weather Service office in Tampa Bay continued flood warnings for rivers in Hillsborough, Sarasota and Manatee counties and several other locations Saturday, with some set to remain in effect “until further notice,” according to the weather service.The Alafia River in Lithia, Florida, and the Hillsborough River, both in the Tampa area, remained at major flood stage by early Sunday.A CNN crew touring the Hillsborough County neighborhood of Valrico with the sheriff’s office on Saturday observed widespread flooding for several blocks, leaving front yards and garages covered in water. Some residents told them they’d never seen such severe flooding in their decades of living there.Chronister said Saturday Hillsborough County’s crews performed more than 300 rescues within 48 hours, adding teams are working around the clock.Drivers seek relief amid gas shortageDozens of Florida drivers likely low on fuel for days waited in lengthy lines Saturday outside gas stations in hopes of filling their tanks and cans, as shortages in the state’s hard-hit areas persisted.Some people told CNN they’ve had to use word of mouth to find out which stations have gas. Drone footage Saturday morning showed long lines of drivers hugging both sides of Thornton’s gas station in Oldsmar in Pinellas County.One of those lines made of at least 20 drivers stretched across the intersection while letting other drivers travel through, a video showed. But relief was en route Saturday for some stations, including at a Wawa in Valrico, Florida, where Hillsborough County sheriff’s deputies escorted a gas tanker truck as several drivers awaited the chance to use the pumps.A man standing outside his parked white pickup truck punched a grateful thumbs-up into the air as the tanker pulled in, video showed. Paula Cast told CNN her family visited four or five different gas stations Friday, but everything was closed.Then on Saturday, they got a call from one of their friends saying a Wawa station had gas. “So me and my son immediately ran over here, and we’ve been in line for about an hour and a half, literally on fumes,” Cast said.CNN’s Sam Fossum contributed to this report.

Cal Shakes Theater’s 50-year history could end [Video]
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Small Business Funding

Cal Shakes Theater’s 50-year history could end [Video]

Cal Shakes Theater has been a landmark in the hills of Orinda for generations of theater-goers, local actors and production workers. On Friday, crews were wrapping up the stage for the winter season, and facing what could be the end of that Bay Area tradition. Declining revenue, donations, and grant funding has made it untenable to continue without a sudden infusion of funds.

Still time to apply for financial help from summer storms [Video]
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Small Business Funding

Still time to apply for financial help from summer storms [Video]

If your home or business was affected by the strong storms from mid-July in Henry County, theres still time to apply for financial help from FEMA or the Small Business Administration. The SBAs Tim Watson joined Our Quad Cities News at 4 to tell us all about it. For more information, watch the video above []