The community may declare any existing structure as a repetitive loss structure as

The community may declare any existing structure as a repetitive loss structure as required to qualify the structure for increased cost of compliance (ICC) benefits allowed by a National Flood Insurance Program flood policy claim. To be declared a repetitive loss structure, the following conditions must be met: (1) The structure must have a flood insurance policy that includes the increased cost of compliance coverage and; 3986829.1/00520.00006 (2) The structure must have been flooded twice during a ten-year period with each flood event causing damage for which the repair cost equaled or exceeded 25% of the market value of the structure.