I read the Sun-Gazette each day. I have not seen coverage in our local paper of the FBI investigation of the Federal Emergency Management Agency presently ongoing, so I wanted to make sure everyone is aware of this investigation. Through an investigative report recently undertaken by NBC news, it was discovered that there is over 500 instances where FEMA has remapped waterfront properties from a high risk flood zone to lower risk flood zones, thereby saving those property owners 97 percent on their flood insurance premiums. In a majority of those instances, the property owners were wealthy condo owners, multi-million dollar beachfront mansion owners, etc.; in other words those who have the resources, money, and could hire the “best companies”, and I use that term loosely, to file and lobby on their behalves to change their flood zones. Want an example of this? How about a condo called the Island Towers in Alabama’s Gulf Shores. This luxury condo building stands in the area where Holiday Inn and Mcdonalds were destroyed during hurricane Ivan. The condo association had previously been paying $143,190.00 yearly into the National Flood Insurance Program (NFIP).
Now, as a result of FEMA’s remapping, the association pays $8,457.00 per year. What is also important to know is that the Island Towers collected $11,562. from Hurricane Katrina and more than $250,000 from Hurricane Ivan. The point is this: FEMA remaps these properties after extensive lobbying, money and time spent, redrawing flood zone map lines around properties that have repeatedly flooded and repeatedly filed flood insurance claims. Something is wrong here, not only morally but criminally. As I said when this congressional, manmade disaster became public, after months of keeping it hush-hush, dig underneath the top layer, there is more to this than just flood insurance. Something stinks to this whole Biggert-Waters deal, the way it was passed, the way it was implemented and the way it is being handled. It needs repealed!
Submitted by Virtual Newsroom