There are four primary ways to fund the cost of elevating a structure:
– Grant Programs
Reconstruction, Rehabilitation, Elevation and Mitigation Program REM Grant (“RREM”) Funded by HUD. Up to $150,000 per qualifying household if primary residence and other requirements are met. Program to “fill the gap.”
Increased Cost of Compliance (“ICC”) funded by the National Flood Insurance Program (“NFIP”) up to $30,000 for homeowners with flood insurance who have been deemed “Substantially Damaged”
HMGP Elevation Program (“HMGP”) eligible if primary single family residence, up to $30,000 for elevations of existing homes.