FEMA Resource for Substantially damaged homes

FAQ#: 384 published 4-25-2021 updated 12-31-2021

These files have been updated and reviewed by HUD on 7-2020 and are the most current valid documents.

You are looking for references under Cash Value sections 4.5.2 .3 .4 I believe. Not sure

FEMA Resource References:

Substantial Improvement / Substantial Damage Desk Reference FEMA P-758 / May 2010

2020-07 fema nfip substantial improvement substantial damage desk reference .pdf

Answers to Questions About Substantially Improved / Substantially Damaged Buildings FEMA 213 / August 2018

This section discusses the "Replacement Cost Value" RCV of the home based on the present day cost of materials and labor.
The argument would be in a perfect world, the replacement materials would be ordered the day after the disaster and would not need to be reassessed. But because of delays beyond the control of the homeowner construction costs did increase but reassessments were not followed.
The original RCV in the grant is $108/sf * Square feet of home. At the time of replacement the materials and labor were valued at $118/sf as detailed in Oct. 2020 by state managers. Because HUD offers no specific spot checks or time frame to reassess costs and FEMA identifies the costs for Replacement is to be calculated at the "present day cost of materials and labor" we have to conclude that present day means the period of time materials and labor were acquired.

"RCV is the cost to replace a structure on the same parcel with a new structure that is intended for the same purpose and using comparable materials and quality (at the present day cost of materials and labor). The concept of RCV is also used by both the insurance industry and the construction industry. Definitions may vary from State to State."

2020-07 fema p213 08232018 .pdf

Comment | Suggestion | Feedback

PPP Forgiveness Application SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application.

FAQ#: 252 published 5-16-2020 2 min. 4 seconds read


Paycheck Protection Program PPP Questions and Answers for a Select few. Published 4-28-2020

FAQ#: 251 published 4-29-2020 1 min. 50 seconds read


PPP Topic; TIPS FOR SUBMITTING EFFECTIVE COMMENTS ON FEDERAL REGULATIONS. And your list of Paycheck Protection Program rules you might want to voice your opinion over.

FAQ#: 250 published 4-29-2020 29 seconds read


Can I us my US Treasury and SBA PPP loan with my SBA EDIL without merging the two loans as it shows in the borrowers form?

FAQ#: 249 published 4-24-2020 1 min. 1 seconds read


EIDL: Do landlords with no employees, not LLC, file 1040, Schedule E, qualify for EIDL loan and advance?

FAQ#: 213 published 4-23-2020 updated 4-24-2020 18 seconds read


So it begins, H.R. 748 is a Public Law from the 116th Session of Congress.

FAQ#: 248 published 4-23-2020 5 seconds read


SEC. 1109. United States Treasury Program Management Authority.

FAQ#: 247 published 4-23-2020 1 min. 13 seconds read


PPP: US Treasury Paycheck Protection Program, rules, forms, FAQ.

FAQ#: 246 published 4-23-2020 21 seconds read


Loan forgiveness applies to covered period of the loan only.

FAQ#: 244 published 4-23-2020 1 min. 35 seconds read


Disaster Unemployment Assistance (DUA) Independent Contractors / Self-Employed / 1099-MISC

FAQ#: 243 published 4-23-2020 2 min. 32 seconds read