What can help Mrs. McGillicudy cover the costs of elevating her flooded home due to financial hardship?

In the context of elevating a home after a flood, Increased Cost of Compliance (ICC) coverage can provide significant financial assistance specifically for homeowners like Mrs. McGillicudy who face the burden of elevating their property due to flood damage. ICC coverage is part of the National Flood Insurance Program (NFIP) that helps policyholders cover the costs associated with meeting local floodplain management requirements, which often include elevating structures to reduce future flood risk.

This financial support is particularly crucial for individuals experiencing financial hardship, as it can offset expenses that might otherwise be unmanageable. Through ICC coverage, eligible homeowners can receive funding for necessary elevation or relocation of their home, making it a targeted and effective solution for the challenges faced after experiencing a flood.

While other options like local tax incentives or grants from family members could potentially provide assistance, they aren't specifically designed for situations involving flood compliance and may not adequately address the necessary expenses of elevating a home after flooding. Home equity loans can add debt to a homeowner's financial responsibilities, which is not ideal for someone already facing financial hardship.