TBBA’s own Kevin Robles, CEO of Domain Homes, testified on June 30, 2016 before the US Senate Committee on Small Business and Entrepreneurship Hearing. Robles who is a past president of TBBA provided the committee insight on the effects recent flood insurance regulations were having on small business owners.
“Any negative change to the market, such as flood insurance rate increases, could have long-term unintended consequences to Florida’s economy,” Robles said.
“I am a small business owner and at least a quarter of my customer base is active or retired military. I am constantly reminded of the need to keep housing prices affordable. In Florida, for every $1,000 increase in home prices, more than 8,000 households are priced out of the market,” he said.
Robles added that in Florida where there are large Special Hazard Flood Areas, it is extremely difficult to avoid building in or near a floodplain, so inaccurate floodplain maps are very problematic for builders. It can take months and cost hundreds of thousands of dollars to change the flood maps or elevate a property.
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