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<br />. . <br /> <br />( <br /> <br />--Tenants in el1gi ble COl1l11unities may also insure their personal property <br />against flood loss. <br /> <br />7. PURCHASE OF flOOD-DAMAGED PROPERTY <br /> <br />a. Agency: Federal Emergency Management Agency <br /> <br />b. Assistance: Purchase of flood damaged property can be pursued under <br />Section 1362 of the National Flood Insurance Program (NFIP). Eligible <br />owners can elect to sell the land and buildings to FEMA, Who subsequently <br />transfers the property to the community. At least one of the following <br />criteria must be met to be potentially eligible for assistance: <br /> <br />--The currently damaged structure must have been damaged by at least <br />three previous floods over a 5-year period, with an average damage <br />of 25 percent or more of the value of the structure. <br /> <br />--A single flood" has damaged the structure 50 percent or more of its <br />value or beyond repair to its preflood conditions. <br /> <br />--Any single event has left the structure damaged and irreparable, <br />either due to local ordinance limitations or significantly increased <br />bun ding costs. " <br /> <br />8. BLOCK GRANTS <br /> <br />( <br /> <br />a. Agency: U.S. Department of Housing and Urban Development <br /> <br />b. Assistance: The Community Development Block Grants (CDBG) provide Federal <br />aid to promote sound community development. The CDBG program provides grants <br />to carry out a wide range of community development activities directed <br />toward neighborhood revitalization, economic development, improved community <br />facilities and services and hazard mitigation. These funds can be used for <br />such things IS: <br /> <br />--Acquisition of real property; <br /> <br />--Relocation of demolition; <br /> <br />--Structural rehabilitation; <br /> <br />--Provision and improvement of public facilities; <br /> <br />--Mitigating serious and immediate threats to the health and welfare of a <br />cOllll1unity. <br /> <br />c. Eligibility: COBG grants are awarded to units of ~ocal government by states. <br />The states' objectives and methods of distributing the funds are determined <br />in consultation with affected citizens and local elected officials. Activities <br />that promote hazard mitigation can be awarded high loading factors for rank." <br />1ng applications. " <br /> <br />" <br />