Housing
More on Housing
By Bruce Nolan
With prayers and the solemn tolling of bells, but also with second-line parades and the drumming of Mardi Gras Indians, New Orleanians throughout the region on Sunday took stock of their rebuilt lives in the five years since the worst event in the region's history, and promised each other to keep the recovery going.
by Jim Abrams
Congress has not updated the program since 1994. In the ensuing years the once-solvent program had to pay out some $17 billion in Katrina-related claims and had to deal with FEMA flood zone remapping that has thrust thousands of homes and businesses into areas where they are required to buy flood insurance.
Rep. Maxine Waters, D-Calif., the chief sponsor of the bill, said it helps reduce the sticker shock of FEMA remapping by delaying the mandatory buying of insurance for five years and then phasing in full premiums over another five years.