New FEMA map for Grand Rapids could cost residents big time: "If FEMA gets its way, roughly 6,000 homes and businesses would be added to the floodplain on both sides of the river.
'A lot of residential properties, a lot of commercial properties in this area both north and south of I-196 and west of 131 would be affected,' said DeLong.
Michael Smith bought his house in Walker years ago. At that time, he made sure his house was not in a floodplain.
'Ten years down the road, they're suddenly changing the ball game on me and it doesn't make me happy at all,” says Michael.
Thousands of homeowners may have to purchase flood insurance.
Angie Rinock of State Farm Insurance says, 'The average cost of flood insurance is about $400 a year, about $35 to $40 extra dollars a month.'
But that's just the average, some estimates put the number between $1000 and $4000 dollars a year."
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