Homeowners Relieved After Senate Delays Insurance Hikes

Yesterday the Senate passed a bill to sharply delay the increases in flood insurance rates for millions of property owners in coastal and flood-prone areas. The bill effectively guts a 2012 law (“Responsible Implementation of Flood Insurance Reform Act”) that had aimed to overhaul the nearly bankrupt National Flood Insurance Program. The Program which subsidizes insurance for buildings in flood zones, had a $24 billion deficit following claims from Hurricane Sandy. The law’s aim was to raise revenues for the federal flood insurance program. The law had also required updating of federal flood zones, which could determine which property owners will be required to purchase flood insurance by their mortgage holders.

Although the bill delaying the rate increases had bi-partisan support it still drew criticism from a broad spectrum of outside groups.  “It will return the program to a state of insolvency,” and “General taxpayers will be footing the rest of the cost.” according to an article written in the New York Times that quoted Shai Akabas an analyst at the Bipartisan Policy Center, a Washington research group. The aim of the 2012 law was to shift the financial risk of insuring flood-prone properties to the private market from taxpayers. The debate over who will pay for the nation’s rapidly rising costs for flood damage remains unclear.

Over the past year, millions of coastal property owners were hit with flood insurance rate increases that sent their premiums soaring up to five or 10 times the previous amounts. As their insurance bills soared and their property values plummeted, homeowners begged lawmakers to block or delay the 2012 law. 

Most Tybee properties are located in the highest risk flood areas, known as V zone. With few exceptions, Tybee non-primary residences with a first floor not built off the ground would have seen a significant increase. Many other parts of Chatham County are also located in high flood risk zones, and many homes built before the creation of the National Flood Insurance Program have long been eligible for subsidized policies.

Savannah morning news reported: Russ Pennington, director of policy and public affairs with the Georgia Environmental Protection Division, said Tuesday the impact hasn’t been drastic so far.

“What we’ve seen in other parts of the state that have preceded Effingham area specifically, it seems to be a wash,” he said. “Some areas are found to no longer be in the flood zone; some new areas are found to be in the flood zone. That’s just a process that is working itself out.”

Find out more from FloodSmart.gov the official site of the National Flood Insurance Program.

Savannah Humane Society - Making a Difference

More than 55 years ago, a group of concerned animal lovers joined together to organize The Humane Society of Chatham-Savannah, Inc. They created a vision for Savannah where in our community for every pet there is a safe and loving home with a responsible owner. They conduct adoptions, provide education, owner assistance and affordable spay and neuter services.  As you know, we're a pet-loving team here. Several team members have rescue dogs; a couple of which came from the Humane Society. We've made donations, walked the dogs ourselves, and once had a holiday party and asked our guest to bring dog or cat food instead of presents. It's the least we could do for an organization so close to home for many of us. 

This often forgotten Savannah non-profit organization is really making a differene in our community. They have often rescued animals, and then find good homes for them. The most recent rescue was a 2 1/2 yr old Mastif - Pit (Juicy) mix dog which had been abandoned by its owners in Hinesville. The dog, nearly starved to death was nearly 40 pounds underweight. Watch the WTOC viedo on the heartwrenching story.

http://www.wsav.com/story/24548127/neglected-dog-in-hinesville-is-getting-some-much-needed-care?autoStart=true&topVideoCatNo=default&clipId=9769165

Pets are so important for our health. In fact here is an article from the American Physcology Association. 

Pets can serve as important sources of social and emotional support for “everyday people,” not just individuals facing significant health challenges, according to research published by the American Psychological Association. 
...“Specifically, pet owners had greater self-esteem, were more physically fit, tended to be less lonely, were more conscientious, were more extraverted, tended to be less fearful and tended to be less preoccupied than non-owners.” Read this article. http://www.apa.org/news/press/releases/2011/07/cats-dogs.aspx

Even zoo keepers understanding the nuturing and healthy impact of animals on our lives, and other animals life. The Cincinnati zoo has been successfully pairing adolescent cheetahs with dogs as playmates for 30 years as part of its Cat Ambassador program. Watch this adorable video as the dog and baby Ocelot play.

Savannah A Growing Romantic City

Savannah is really starting to grow and take on a new shape, with its ‘downtown’ boundaries and neighboring residential areas expanding. Historic Savannah, the hostess of the south, had a good year in the press (see below) setting the city up for some great continued success. According to SEDA’s 2014 business outlook 'Savannah’s long-term growth prospects are among the best in the nation. Savannah's unique ambiance and transportation infrastructure make it both an attractive place to live and do business.’ We are definitely seeing signs of that growth already.

In 2013 Savannah received the following recognition:

• One of the "Top Ten Romantic Cities" – Livability.com, February 2013,
• "Best City for Affordable Getaway" –Travel + Leisure, May 2013,
• "Best Romantic City" –AAA Southern Traveler, August 2013,
• "America’s #1 Most Charming Accent" – Travel + Leisure, April 2013,
• "Top 50 Destination for Labor Day" - TravelersToday.com, August 2013,
• "Tybee Island: Top Family Friendly Beach Town" –TravelNerd.com, June 2013, and
• "America’s Top 10 Waterfronts" –USA Today, May 2013. 

This Thursday Tanger Factory Outlet Centers confirmed that they plan to develop Tanger Outlets Savannah in partnership with Atlanta development firm Ben Carter Enterprises. Pooler’s outlet mall is the sight of the new partnership and will have approximately 400,000 square feet of leasable space.  “We are very pleased to add Tanger Outlets Savannah to our existing portfolio of successful resort and destination properties,” said Steven Tanger, CEO of Tanger Factory Outlets. “Our joint venture with Ben Carter Enterprises in the Savannah market is a strategic move to help us deliver a world class outlet experience to this thriving Southern market.”

Also new to Savannah is Bruster’s real Ice Cream which opened a store in Victory Station, where Whole Foods, Chipolte and Zoe’s Kitchen also just opened. All are new to the Savannah market, and so far have been real received. The Whole Foods effect which I wrote about in July is taking place as the shopping plaza Victory Crossings across the street from Whole Foods is expanding. Whole Foods’ apparent success in Savannah is a clear signal to other corporations that Savannah might be a more promising location than previously thought.

In the downtown area we have two new hotels expanding the boundaries of the walkable downtown area. The new Embassy Suites Savannah is open at 605 W. Oglethorpe Ave. The hotel boasts 150 rooms and its own parking garage. A significant new entry in downtown’s inventory of hotels. Later this year, opening in May, will be the renovated Mulberry Inn, renamed The Brice, which was purchased by the Kimpton Hotel Group. 

SCAD students will also be benefiting from our growth. One West Victory Square, a student apartment/retail complex at Victory and Bull streets, will also be home to an Italian-inspired eatery called The Florence.  The Florence will measure 7,000 square feet spread over two floors and will occupy the yellow-brick building being preserved on the site. The restaurant with a bar and patio will of course be open to local residents as well. For One West Victory Square the location of a neighboring burgeoning artistic community the shopping, eateries and entertainment venues are plentiful. Located in the Starland Art district students will have full access to a thriving art scene, and is sure to add a boost to local business.

And just in case you weren’t sure of Savannah’s growth, Jet blue comes to Savannah/Hilton Head airport, with flights to JFK and Boston starting Feb. 13.