Latest news with #DerekBrunney
Yahoo
11-04-2025
- Business
- Yahoo
Friday is the last day to apply for help through Elevate Florida program
TREASURE ISLAND, Fla. (WFLA) — April 11 is the last day people can apply for assistance through the Elevate Florida program. The program helps homeowners raise, rebuild, or strengthen their homes to help reduce damaged caused by storms. Sarasota mother of children killed in hit-and-run dies months after crash It is important to double check your information on the application, which many have told 8 On Your Side, is a confusing process. To elevate your home or knock it down, Friday is the last day for homeowners to make the decision if they want to apply for the state's Elevate Florida program. A decision that needs to be made soon, since hurricane season is now less than two months away. 'You won't be able to rebuild anything new that isn't elevated. It must be elevated,' said Derek Brunney, a homeowner in Pinellas County. Eligible projects include structure elevation, mitigation reconstruction, and wind mitigation. Homeowners are encouraged to double check their applications before submitting. While information sessions were held last month, many people walked away confused. 'It was information that already we've been able to get through the website on the application process,' said one resident. 'I was expecting a Q&A session rather than just reading from the documents that are already available,' said another resident who went to an information meeting. To apply, you have to be at least 18, a U.S. citizen, and own your property. The program could cover at least 75% of the cost to raise the home, as long as the homeowner can cover the rest. Some are worried that they $400 million allocation from the state may not be enough to help everyone in need. $220,000 each home that they're looking at allowing, that doesn't equal a whole lot of homes, and if that funding goes away, who is going to step in?' Brunney said. The program is designed to protect homes and communities from natural disasters, like hurricanes. If you still need to apply, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
30-03-2025
- Business
- Yahoo
How to financially weather home repairs and rising insurance costs
Some Florida homeowners hardest hit by hurricanes Milton and Helene must now also see their homes completely demolished or, if they're lucky, elevated. This follows a federal mandate that impacts majorly damaged homes — those impacted by natural disasters. Federal Emergency Management Agency's (FEMA) 50% rule dictates that if a house is in a flood zone and local building officials deem it to be substantially damaged, straightforward repairs may not be sufficient. The complex regulation kicks in when the repair costs exceed 50% of the home's market value (the test for 'substantially damaged'), amounting to hundreds of thousands of dollars for the homeowners. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP Hurricane Milton took at least 24 lives in Florida and caused over $34.3 billion in damages last October, while just days prior, Hurricane Helene's aftermath killed 34 in the state and caused over $78.7 billion in damages across the U.S. The west coast barrier islands of Pinellas County were one of the state's most impacted areas. Redington Shores resident Derek Brunney has lived in his home for over 20 years and has had to contend with it being demolished. 'You start seeing different events you had on the property. Weddings, birthdays, things like that. It just rehashed everything," Brunney told WFLA News Channel 8 On Your Side about the aftermath. "It's one step forward, two, or three steps back. You get punched in the eye at the same time.' The trouble for many homeowners like Brunney is that they still must pay for their insurance and utilities. But he — and many other Florida homeowners — still hold out hope for a better future. 'It's slow,' he said. 'It's daunting. It's exhausting, but it's the only way you're going to move forward right now until you get to the end of it.' When it comes to home repairs and rising insurance costs, you often can't anticipate when they'll hit. The key is to be prepared. While this isn't a simple feat for many, there are some practical things you can start doing today to budget for the future and any rebuilding efforts. Set aside emergency savings. Aim to save what you can each year for emergency repairs and maintenance. Ideally, your fund will cover three months worth of minimum monthly expenses, but if you're in a disaster-prone area, you'll need to prepare for more than the bare minimum because such expenses fall beyond the parameters of regular expenses. To get a sense of what you'd need to put away, you can try using a savings goal calculator, or plain old pencil and paper. While those funds sit tight, invest them independently in something that earns interest yet keeps them separate and accessible, like a high-yield savings account. Read more: Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus 2 ways to build that first-class portfolio Understand your insurance plan and exactly what you are and aren't covered for. Review your home insurance policy in detail every year, and don't hesitate to contact your agent to clarify terms. Ask questions. Document answers. Make sure you understand deductibles, exclusions and any limits on claims. Prepare and save for increased premiums. Track trends in local insurance rates and adjust your budget accordingly. Even if you aren't in an area of direct impact when it comes to natural disasters like fires and hurricanes, you may be surprised to learn, your premiums may still be going up. Others in 'high-catastrophy states' may also need to prepare. Understand why this may be the case, and prepare to shop around for the best rates for the coverage you need, if necessary. Future-proof your home against natural disasters. Start with small projects like installing storm shutters and sump pumps, reinforcing your roof and replacing lighter materials with more durable alternatives. Then, consider larger upgrades like hurricane resistance or seismic retrofits, and flood barriers. Fireproofing his home made all the difference for this California resident. Look into state-wide programs to help offset costs. For example, Elevate Florida, the state's first elevation mitigation program, was designed to "enhance community resilience by mitigating private residences against natural hazards." It provides eligible homeowners with at least 75% of their costs for structure elevation, mitigation reconstruction, acquisition/demolition or wind mitigation. Research and use all the programs and funds available to you. With these measures, you can rest assured you are being proactive in protecting your home and your future. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Protect your retirement savings with these 5 essential money moves — most of which you can complete in just minutes This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Yahoo
19-03-2025
- Climate
- Yahoo
‘It's exhausting': Wave of hurricane-damaged FL homes demolished to comply with federal mandate
REDINGTON SHORES, Fla. (WFLA) — Some homeowners who are living in the areas hit hardest by Hurricanes Helene and Milton now have to watch their homes be torn down. They must comply with a federal mandate that requires severely damaged homes to be elevated or destroyed. FEMA's so-called '50% rule' might cost them hundreds of thousands of dollars. Olympus Pools customers call guilty verdict justice The rule is changing the face of the barrier islands across Pinellas County including a neighborhood in Redington Shores. 'This was initially the living room,' said Derek Brunney. 'This was our entrance to the home itself. It's all gone as you can see.' Brunney lived in his home for more than 20 years, but now it's in shambles with construction debris littered across the property. Twenty years of memories are gone. 'You start seeing different events you had on the property,' Brunney said. 'Weddings, birthdays, things like that. It just rehashed everything up.' The shattered windows and crushed cinderblocks are a stark contrast to what his home looked like last week when he showed 8 On Your Side the damage inside. However, within hours after the demolition crew showed up, his house became a shell. The rubble left behind is now an eerie reminder of the storms that tore through his neighborhood nearly six months ago. Could the Hillsborough County Sheriff's Office HQ move out of Ybor City? 'It's one step forward, two, or three steps back,' Brunney said. 'You get punched in the eye at the same time.' Brunney's new reality is the result of the FEMA 50% rule. The damage to his home exceeded the threshold for repairs, leaving him with few choices to meet the requirements to tear down or elevate his home. FEMA's 50% rule is a complex regulation that can cost homeowners a small fortune. Essentially, if the house is located in a flood zone, and local building officials determine it has substantial damage, the homeowner might not be allowed to just do simple repairs. They may be forced to tear down your home and completely rebuild at a higher elevation. The federal regulation is triggered when the cost of repairs exceeds 50% of the market value of the home. However, many difficulties remain. 'You're still paying your flood insurance,' Brunney said. 'You're still paying your homeowners insurance. You're still paying your water, your sewer, your trash. None of that stops.' However, Brunney says he's persevering and holding onto hope. 'It's slow,' he said. 'It's daunting. It's exhausting, but it's the only way you're going to move forward right now until you get to the end of it.' Now, with a new hurricane season fast approaching, homeowners are making difficult and costly decisions when storm proofing their homes. However, the state just rolled out a new program that is aimed at helping homeowners offset the cost. 'Elevate Florida' is the first elevation mitigation program in the state. If approved, homeowners could receive about 75% of the project cost. However, critics worry the $400 million allocation from the state may not have enough dollars to meet the demand. According to the Florida Division of Emergency Management, the goal of Elevate Florida is to enhance community resilience by mitigating private residences against natural hazards. Officials say mitigation reconstruction is the alternative to structure elevation when the structure is not sound enough to elevate, as determined during application review. Eligible projects include: Structure elevation Mitigation reconstruction Acquisition/demolition Wind mitigation For more information about the program or to apply for assistance, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
13-03-2025
- Business
- Yahoo
‘It's confusing': Concerns mount over Elevate Florida mitigation program
ST. PETERSBURG, Fla. (WFLA) — Knock down your house or elevate it off the ground. Several homeowners hit hard by the storms are still making that difficult decision to comply with federal mandates in order to rebuild. 'It could be a couple years': Treasure Island welcomes spring break crowds amid hurricane recovery This week, the Florida Department of Emergency Management is hosting a series of meetings about the new Elevate Florida program. If approved, homeowners could receive about 75% of the project cost. However, critics worry the $400 million dollar allocation from the state may not have enough dollars to meet the demand. 'It's confusing,' said Derek Brunney, a homeowner in Pinellas County. 'You don't get the answers. They don't have the answers. They can't even answer if it's funded or how much is funded, or how many homes they're going to be able to do.' Many walked away from the meeting with disappointment. 'It was information I was already able to get from the website through the application process,' a homeowner stated. 4 Tampa restaurants added to Michelin Guide Representatives from the Elevate Florida program declined the opportunity to answer questions from 8 On Your Side. 'I was expecting a Q&A session rather than just reading from the documents that are already available,' said another homeowner. The Florida Department of Emergency Management is hosting additional meetings this week: Thursday, March 13 from 10 a.m. – 7 p.m. at the St. Petersburg Sunshine Center, 330 5th Street North, St. Petersburg, FL 33701 Friday, March 14 from 10 a.m. – 7 p.m. at the Clearwater Ross Norton Recreation Center Multipurpose Room, 1426 S MLK Jr. Avenue, Clearwater, FL 33756. *Full presentation at noon and 5 p.m. Between the flooding and the cleanup, those who endured Hurricanes Helene and Milton have faced many hurdles. Now, a federal regulation might cost them hundreds of thousands of dollars. The FEMA 50% rule is catching some homeowners who are affected by flooding and damage off guard. The mandate is a complex regulation that can cost homeowners a small fortune. Essentially, those in a flood zone who have substantial damage might not be allowed to just do simple repairs. They may be forced to tear down their home and completely rebuild at a higher elevation. Elevate Florida is a new state program that's helping homeowners cover the cost to elevate their home. Last year's hurricane season took a devastating toll on homes across Tampa Bay. Now, with a new hurricane season fast approaching, homeowners are making difficult and costly decisions when storm proofing their homes. Elevate Florida is the first elevation mitigation program in the state. According to the Florida Division of Emergency Management, the goal of Elevate Florida is to enhance community resilience by mitigating private residences against natural hazards. Officials say mitigation reconstruction is the alternative to structure elevation when the structure is not sound enough to elevate, as determined during application review. Eligible projects include: Structure elevation Mitigation reconstruction Acquisition/demolition Wind mitigation For more information about the program or to apply for assistance, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
