Organization adds Muncy Historical District to list of high-risk flood sites
Preservation Pennsylvania, a non-profit organization, has added the Muncy Historical District to its list of sites that are at a high risk of flooding damage. The organization has taken this opportunity to call for changes to be made to the federal National Flood Insurance Program. The program is often the only place to find flood insurance in the United States and has been beleaguered by financial issues for several years.
Flood damage could be a major problem for the historical district
According to Preservation Pennsylvania, nearly 40% of the Muncy Historical District is at risk of flood damage due to its proximity to the Susquehanna River and other bodies of water. Half of the buildings located in the district are located near a notorious floodplain that could cause serious problems in the event of a major storm. The organization notes that the district is among 900 communities in the state that face series flood risks, but also financial risks associated with the high cost of flood insurance coverage.
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Flood insurance premiums continue to rise
Changes to the National Flood Insurance Program were introduced in 2012 with the Biggert-Waters Act. The legislation caused insurance premiums for flood coverage to increase by a significant margin. This is particularly problematic for historical buildings, as Preservation Pennsylvania suggests that the owners of these properties that cannot afford flood insurance premiums will have to demolish their properties. The organization claims that many of the property owners in the region cannot afford these premiums as they are currently.
States take steps to address issues with federal flood insurance program
Flood insurance has become a controversial issue in the United States. Some states are taking steps to privatize this insurance coverage, opening up their markets to private companies that would be willing to offer flood protection. Addressing the issues that face the National Flood Insurance Program have become a priority in some states, where flood risks are particularly high. The cost of the program and the coverage it offers has been harshly criticized in the past few years.