136 Organizations And Businesses Support A Federal Real Estate Flood Disclosure Requirement

Tuesday, September 15, 2020

Local groups across the country, including 16 in Tennessee, are calling on congressional leadership to act on legislation that would create a federal flood risk disclosure requirement to protect families, renters and homebuyers. 
 
Officials said, "At present federal policy requires lenders—and not sellers—to notify borrowers only if they are required to have flood insurance. Recent tools have made flood risk data more available yet, the lack of standard disclosure laws and access creates misunderstanding and gaps in consumer awareness.

Disclosure laws already exist as a standard practice for property when it comes to lead paint—flood risk should be no different. 
 
"The lack of standard information perpetuates confusion and creates significant financial damage for homebuyers caught unaware of their true flood risk. For families living in 100-year floodplain, the likelihood of a flood occurring during the lifetime of a 30-year mortgage are roughly one in four. The problem is exacerbated for homebuyers and renters that may live outside mapped risk zones and may never be aware of their risk or past flooding on the property."
 
Michael Walton, executive director of green|spaces stated, “People selling homes in a state that requires disclosure of flooding, like Tennessee, are at a disadvantage if their regional market includes states that don't require disclosure, like Georgia and Alabama. A federal requirement to disclose flooding would not only help protect home buyers throughout the country, it would also level the playing field. We'd like to see the market reward sustainable, resilient development with all of the information necessary to do so.” 
 
"Current disclosure related legislation in Congress would ensure that homeowners, businesses and renters are provided with useful, timely information regarding flood risk any history of flooding or flooding damages known to a seller or lessor," officials said.
 
Mr. Walton added, "At green|spaces, we help people and businesses take simple steps to improve their resilience and reduce their environmental impact but it is unlikely you would know to invest in things like green infrastructure if you don't know that flooding is a problem for the property to begin with.



148-Lot Residential Development Planned On Snow Hill Road

Local Legal Leaders Unite To Make A Difference At Habitat for Humanity of Cleveland's Law Build Day

Real Estate Transfers For June 3-9


A 148-lot residential development is planned at 7302 and 7306 Snow Hill Road. RAS, LLC is the developer on the site owned by the Rogers family. The staff of the Regional Planning Agency ... (click for more)

Habitat for Humanity of Cleveland’s first ever Law Build Day is an exclusive event with 10 legal leaders in the Cleveland community coming together to sponsor and help build a home. On Saturday, ... (click for more)

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding ... (click for more)



Real Estate

148-Lot Residential Development Planned On Snow Hill Road

A 148-lot residential development is planned at 7302 and 7306 Snow Hill Road. RAS, LLC is the developer on the site owned by the Rogers family. The staff of the Regional Planning Agency is recommending approval for the Planned Unit Development, saying it conforms with the Wolftever Area Land Plan. It goes before the Planning Commission on Monday at 1 p.m. at the County ... (click for more)

Local Legal Leaders Unite To Make A Difference At Habitat for Humanity of Cleveland's Law Build Day

Habitat for Humanity of Cleveland’s first ever Law Build Day is an exclusive event with 10 legal leaders in the Cleveland community coming together to sponsor and help build a home. On Saturday, June 19, they will step “out of the courtroom” and onto the construction site to experience camaraderie and network, as they help build a home. This team will be continuing work started ... (click for more)

Breaking News

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34-Year-Old Man Killed In Shooting Early Saturday Morning Outside The Mapco On Brainerd Road

Billy Burson, 34, was shot and killed early Saturday morning outside the Mapco on Brainerd Road. Chattanooga Police were dispatched to a hold-up alarm at 4711 Brainerd Road at approximately 12:30 a.m. Officers located Burson suffering from multiple gunshot wounds and secured the scene. Hamilton County EMS responded and pronounced Burson deceased on the scene. Investigators ... (click for more)

Opinion

In The Twilight Zone At The School Board

I have a friend who used to say, “I have been to two World’s Fairs and a hog calling contest and I have never seen the beat.” That is exactly the feeling I had after last month’s four-hour marathon School Board meeting. I have been attending school board meetings for the last 20 years and I have never seen another one quite like it. This meeting had it all. For the first time ... (click for more)

Roy Exum: 'Survivor' Speaks Here

It’s one thing to tell a loudmouth in Texas he’s “all hat and no cattle.” And it’s altogether another to ask some fellow in an Abilene beer hall “where do you let you wife graze?” Throughout the history of the Lone Star State, there have been many gun fights, differences settled at the OK Corral or The Alamo, but the most heinous scoundrel of all is one who’ll kill another man’s ... (click for more)