The U.S. Department of Housing and Urban Development (HUD) awarded nearly $312 million to 13 states to reduce the human, physical and economic toll of future disasters. The grants are provided through HUD’s Disaster Recovery Enhancement Fund (DREF) encourage states to undertake activities and long-term strategies that focus on reducing damages from future natural disasters.
Florida is one of the grant states and will receive $26,616,675.
“An ounce of prevention today can spare communities a world of hurt tomorrow,” says HUD Secretary Shaun Donovan. “We’re making a serious investment in our future by making certain that when disaster strikes, the impacted communities in these states can weather the storm.”
According to an independent study by the National Institute of Building Sciences, every dollar spent on disaster mitigation activities saves taxpayers $4 in future disaster recovery expenses. The 13 states that received funding through the DREF invested nearly $876 million in disaster mitigation, which, according to HUD, translates into a total anticipated return on investment of more than $3.5 billion.
DREF funds can be used toward projects meeting unmet disaster recovery needs, including:
• Buyout payments for homeowners living in high-risk areas
• Optional relocation payments to encourage residents to move to safer locations
• Home improvement grants to reduce damage risks (property elevation, reinforced garage doors and windows, etc.)
• Improving and enforcing building codes
• Developing forward-thinking land-use plans that reduce development in high-risk areas.
Source: Florida Realtors®
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