- This is in effect and will continued to be enforced during building permit plan review.
- Basic rule: If the cost of improvements or the cost to repair the damage exceeds 50% of the market value of the building prior to sustaining damage, it must be brought up to current floodplain management standards.
The Town of Fort Myers Beach, following the National Flood Insurance Program (NFIP) requirements, must determine "substantial damage" and "substantial improvement” for structures.
- Substantial damage is defined as damage of any origin sustained by a structure whereby the cost of restoring the structure to its “before damage” condition would equal or exceed 50% of the market value of the structure. (Note: The cost of the repairs must include all costs necessary to fully repair the structure to its “before damage” condition.)
- Substantial improvement is defined as any reconstruction, rehabilitation, addition or other improvement of a structure, the cost of which equals or exceeds 50% of the market value of the structure (before any improvements are performed).
- Historic structures may be exempt from these requirements if the compliance would threaten the structure’s continued eligibility for historic designation.
These laws are required by the NFIP to protect lives and investments from future flood damages. The Town must enforce these laws in order for federally backed flood insurance to be made available to Town residents and property owners.