Passing of flood insurance bill good news for Cenla - KALB-TV News Channel 5 & CBS 2

Passing of flood insurance bill good news for Cenla

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RAPIDES PARISH, La. (KALB News Channel 5) - Alexandria and Pineville are in the process of re-certifying levees, and with the passing of the flood insurance bill, the two cities have more time to complete the project.

"We will be able to beat what was going to be destructive to us economically."

If the levees are not certified, it puts much of the area in a flood zone, forcing property owners to buy flood insurance.

However, the signing of that bill will prevent premiums from increasing more than 18 percent per property annually.

"Whether you rent or whether you own, if they skyrocket for the person who owns the apartment building or the duplex they are going to pass that cost down. So in some cases it would make it impossible to rent that apartment," said Mayor Jacques Roy of Alexandria

So with the levee project moving forward, Mayor Roy said that the passing of the bill takes a burden off homeowners.

"So that would be just a tremendous folly if government allowed that. Whatever they think they are going to grab back for FEMA and premiums will greatly outweigh the economic destruction it would do to the economy," said the mayor.

Opponents of the bill say taxpayers will be forced to pick up the tab. Dawn McClure of Harlan Insurance Agency said she feels that lower premiums outweigh more taxpayer subsidies.

"Over the long term, if the flood could get away from the subsidies I think that would be a good thing, but in the same respect it has to be something we can all afford to pay," said McClure.

Mayor Roy says levee recertification should take two years to complete and cost up to $18 million.

 

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