Some Arkansas residents have been left disappointed after it was made clear that the Federal Emergency Management Agency (FEMA) will not extend assistance to help with the repair of their homes which were damaged by floods ensuing from torrential rains this spring.
Jonesboro City communications director Bill Campbell said in an
abc report that FEMA has a repetitive loss program in which it buys a structure, which is covered by flood insurance, that has been flooded several times.
Under the “buy-out” programs, FEMA pays either 75% or 90% of the home’s value, while the city pays for the rest of the cost of the home.
However, the report states that some homeowners found they do not qualify for assistance because they have not taken out flood coverage multiple times, as required by FEMA.
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