What financial aid could possibly assist Mrs. McGillicudy with the cost of elevating her home?

In the context of floodplain management and the National Flood Insurance Program (NFIP), the Increased Cost of Compliance (ICC) coverage is specifically designed to provide financial assistance to property owners like Mrs. McGillicudy when they need to comply with floodplain management requirements. This assistance can be particularly helpful when it comes to elevating homes that have been affected by flooding.

ICC coverage can help cover the costs associated with elevating a structure, which may be necessary due to the requirements established by local floodplain ordinances. If a home is significantly damaged by a flood and needs to be rebuilt or elevated to reduce future flood risk, ICC can provide up to $30,000 to help meet these compliance costs. This coverage is an essential resource for property owners who are obligated to bring their homes into compliance with local floodplain regulations.

The other options, while they may provide financial assistance in other scenarios, do not directly address the specific need for compliance with elevation requirements due to floodplain management. Government grants may exist but are often more limited and not guaranteed; existing savings rely on personal financial resources, which might not be sufficient; and insurance payouts address losses from flooding rather than compliance-driven improvements.