Plan would make coastal mansions eligible for disaster aid
Source: Bangor Daily News
OLD SAYBROOK, Connecticut On an exclusive Connecticut peninsula, where signs warn outsiders to stay off private roads, eight multimillion-dollar homes with sprawling yards along the Long Island Sound are poised to become eligible for taxpayer-funded disaster aid.
Thats despite the fact that the Fenwick neighborhood of Old Saybrook is in a potentially perilous position, hovering where the Connecticut River meets the sound. A 1938 hurricane washed many Fenwick homes out to sea, including that of Katharine Hepburns family.
The eight homes, a short distance from the rebuilt Hepburn house where the actress died in 2003, currently lie in a coastal protection zone that bans homeowners from receiving federal funds to fix storm damage. The goal is to create a disincentive for new development in areas vulnerable to storms. Half the homes were built after the zone was created nearly four decades ago.
But a proposed massive overhaul of the protection system to correct mapping mistakes and other errors would lift the prohibition on aid for the Fenwick homes and more than 900 other structures along the East Coast from New Hampshire to Virginia. That would allow the owners to buy lower-cost flood insurance backed by the federal government and potentially benefit from millions of dollars in other federal aid to fix infrastructure including roads and bridges.
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Read more: https://bangordailynews.com/2019/07/21/news/new-england/plan-would-make-coastal-mansions-eligible-for-disaster-aid/?_ga=2.24077561.252021657.1563742388-1605214994.1563742388
Maxheader
(4,374 posts)In california you can drive down hwy 1 and look back up mountain ravines and see rubble foundations where the rich dudes built home and they washed down the hill during mud slides..And if you look further back you can see where the latest mansion sits on the top..just waiting for its turn..Personal insurance to pay for them? Why would an insurance company insure imminent failure? Unless it wasn't an insurance company covering the losses?
dixiegrrrrl
(60,010 posts)Altho my rates go up in part to pay for the insured damage of the idiots who keep re-building on a damn sand spit in the Gulf.
When Katrina washed away the middle of the spit, and half the homes, the former owners demanded that the state truck in a zillion tons of soil to make the 2 pieces...of SAND...whole again so they could re-build.
That idiocy has been on my last nerve for years.
erronis
(15,331 posts)Health insurance, auto insurance, house insurance, life insurance - whatever.
They are all scams built on the fact that people hate the idea of loss. Even if that fear is unreasonable.
Karadeniz
(22,573 posts)Initech
(100,103 posts)If we can't have them, why should you? It works both ways.
Traildogbob
(8,806 posts)They don't even pay taxes to help. No taxes, no federal help for anything ever.
Initech
(100,103 posts)safeinOhio
(32,720 posts)Drug testing, give up cable and cell phones too.
kacekwl
(7,021 posts)CTyankee
(63,912 posts)loved it there so I imagine she passed at peace.
cstanleytech
(26,319 posts)own damn insurance and the taxpayer should not be spending one single penny to help them.
YOHABLO
(7,358 posts)Response to jpak (Original post)
geralmar This message was self-deleted by its author.
NickB79
(19,268 posts)No amount of climate legislation can change the fact that many FEET of sea level rise is already locked in. The last time we were at 400 ppm of CO2, sea levels were 80 feet higher than today.
This is wasted money to rebuild here, or anywhere on the coast for that matter.
LogicFirst
(572 posts)But not one darn penny for a student with a delinquent school lunch bill.