National Home Builders Association Publishes Evidence to Conspiracy and Lobbying Congress to remove “residual risk” language from the flood insurance bill
National Home Builders Association Publishes
Evidence of Conspiracy and Lobbying Congress to
remove “residual risk” language from the flood insurance bill.
“Working with a bipartisan group of senators the NAHB (National Association of Home Builders) was also successful in removing (residual risk) language from the flood insurance bill, which would have required the mandatory purchase of flood insurance for areas located behind dams or levees”.
We have seen in the last few years millions of dollars lost by home owners and small business owners who did not have flood insurance in these flooded areas behind levees or dams. Whether or not you think the government has a role in required flood insurance in “areas of residual risk” the fact still remains home and small business owners have lost and will continue to lose millions of dollars when “protection fails” due to structural failure or operational plan implementation.
Senator Conrad and Senator Hoeven worked to remove the requirement for flood insurance behind “residual risk” levee or dams. Who do the senators work for? Is it you or I or the home builders and their political bed fellows?
Home and business owners from Minot, Bismarck and nation wide will still be subject to financial ruin under this proposal. The state and federal governments will then be flood loss claimants’ “payer of last resort”. Please note the tax dollars for these losses come from you and I.
By the votes of the Congress it appears the home building industry, banks etc. will continue to build in flood prone areas and home and business owners will still be subject to catastrophic losses. We see this scenario being played out in the Fargo Future Development Area Plan, called FM Metro Diversion project.
This is not a win for the citizens; it is a win for urban developers with their urban sprawl mentality.