The Residents of Tybee Island are upset because their hand out(welfare) from the government ends Monday. Most of the residents oppose funding for the ACA, food stamps and medicare.
Next week’s scheduled changes to the National Flood Insurance Program will significantly impact Coastal Georgia property owners, federal officials told more than 200 attendees Wednesday night at Tybee City Hall.
More depressing to the meeting attendees was confirmation that subsidized rates would not be available to future buyers of their homes. Many in attendance fear what high premiums will do to their resale value.
Owners of non-primary homes — in which they reside less than 80 percent of the time, like vacation homes and rentals — and commercial properties will bear the biggest burden of rate increases. Their subsidies will begin to be phased out at their next renewal and could rise by as much as 25 percent a year until the rate reaches the full risk amount on the property.
Many attendees left the meeting shaking their heads and echoing the opinion of Tybee Mayor Jason Buelterman.
“I don’t think this law is in the best interest of this community,” Buelterman said. “I hope this meeting will energize us to contact our congressmen and senators to let them know we want to see changes to the law.”
Many lawmakers are pushing for a review of Biggert-Waters and a potential delay in the act’s implementation. But FEMA’s director, Craig Fugate, told a Senate subcommittee last week he lacked the authority to postpone the rate changes.
“I have not found a way to delay without some additional legislative report,” Fugate told the Senate subcommittee. “There is no provision for affordability in this law.”
Blog has been viewed (442) times.