From the real estate And construction industry perpective, here are some details about the new rebuilding requirements in NJ.: NJ Enacts New Rebuilding Rules In Response to Superstorm Sandy. 11 February 2013. The number of structures affected is truly staggering. Some details of the article:
The impact of Superstorm Sandy on New Jersey was enormous: nearly 346,000 housing units either destroyed or damaged and 190,000 businesses affected.1 Sandy demonstrated just how vulnerable to damage much of the low-lying areas in the state are to major flooding events. Because the storm’s devastation was so severe it became apparent to state policymakers and regulators that the past construction norms and flood elevation levels in these areas would have to be significantly altered for any rebuilding.
Moreover, developers and property owners alike were faced with the uncertainty of rising flood insurance premiums and huge reconstruction costs.On January 24, 2013, Gov. Christie approved emergency regulations proposed by the New Jersey Department of Environmental Protection (DEP) that set forth revised rebuilding guidelines in the flood hazard areas throughout the state. The amended Flood Hazard Area Control Act (Flood Act) regulations, among other things, adopt the Advisory Base Flood Elevation (ABFE) maps that were recently updated by the Federal Emergency Management Agency (FEMA).
According to the DEP statement accompanying the emergency rules, the objective of the new regulations is to encourage residents and businesses of New Jersey to rebuild stronger and as soon as possible and to do it using the best available flood elevation data for setting proper design elevations.
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