Sponsored by Oregon Business

Suit could sink S. Waterfront

| Print |  Email
High Five
Wednesday, July 15, 2009

The lawsuit claims that FEMA violated the Endangered Species Act and asks the court to "issue an injunction curtailing FEMA's issuance and/or authorization of insurance."

When developers want to build riverfront projects now, they typically buy subsidized flood insurance through FEMA, which already insures 33,000 Oregon properties worth nearly $7 billion.

[The] lawsuit argues FEMA is violating federal law by failing to “consult” with the National Marine Fisheries Service about whether the development enabled by the FEMA insurance endangers any of the 15 Oregon salmon and steelhead species listed as threatened or endangered under the Endangered Species Act.

Read the full story at the Willamette Week.

Oregon Business magazinetitle-sponsored-links-02