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HomeMy WebLinkAbout05 14 1997 LOMA pM e Federal Emergency Management Agency Washington, D.C. 20472 HAY 14 1991 Ms. Traci Collins-Huss 14393 Watersedge Trail, N.E. Prior Lake, Minnesota 55372 IN REPLY REFER TO: Case No.: 97-G5-3024A Community: City of Prior Lake, Scott County, Minnesota Community No.: 270432 Map Panel Affected: 0005 B Map Effective Date: September 29, 1978 218-70-RS Dear Ms. Collins-Huss: We reviewed your request dated April 7, i 997, for a Lelt~r of Map Amendment. All required information for this request was received on April 15, 1997. Using the information submitted and the effective National Flood Insurance Program (NFIP) map, we determined that a portion of the property described below is located in a Special Flood Hazard Area (SFHA), the area that would be inundated by the flood having a I-percent chance of being equaled or exceeded in any given year (base flood); however, the structure on the property is not in the SFHA. Property Description: Lots 37 and 38, Boudin's Manor, received and recorded in Document Number 380434, filed for record in the Scott County Register of Deeds' Office on October 8, 1996 Street Address: 14393 Watersedge Trail, N.E. , e Flooding Source: Prior Lake This letter amends the above-referenced NFIP map to remove the structure from the SFHA. The structure is now located in Zone B, an area below the 0.2-percent-annual-chance flood level. Flood insurance coverage for the structure may be available under a low-cost policy (see enclosed document). Because portions of the property remain in the SFHA, any future construction or substantial improvement on the property remains subject to Federal, State, and local regulations for floodplain management. This determination is based on the flood data presently available. However, we are currently revising the NFIP maps for the City of Prior Lake, Minnesota. New flood data could be generated that may affect this property. When the new NFIP maps are issued, they will supersede this letter. The Federal requirement for purchasing flood insurance will then be based on the newly-issued NFIP maps. An additional enclosed document provides information about Letters of Map Amendment. If you have any questions about this letter, please contact Ms. Helen Cohn of our staff in Washington, D.C., either by telephone at (202) 646-3457 or by facsimile at (202) 646-4596. Sincerel y, Enclosures \.)~ C}- sQ<>>.\~. Frederick H. Sharrocks Jr., Chief H"""" Idon,ifioafion Bnmch "0. n '" \ M;';g.fion D;~wmre I D ~ : ~ ~ :; I ~ e cc: State Coordinator (w/o enclosures) Community Map Repository e e e ADDITIONAL l~'FORMATION REGA.RDI~G LElll:.RS OF MAP ..\1\1Ei'.1)MEi','T For L;~:e:-s or" ~faD A..rnerrcrr:errt (LO~1As l. t::e Feder:li E:nerl:errc',' \fanal:!e~em Af!encv (FE:.L-\.) b~es its 'dete~uination on tbe Dood bazard information ~\'ailabl; at tbe tU;e o"f tbe cetern.,jnation. Requestors should be aware tbat flood conditions may cbange or new inform2.tion may be generated that would supersede t .t:.~'s determination. In such cases, the community will be informed by letter. Requestors also should be aware that removal of a property (parcel of land or structUre) from the Special Flood Hazard Area (SFHA) means FEMA has determined that the property is not subject to inundation by the flood having a I-percent chance of being equaled or exceeded in any given year (base flood). This does not mean the property is not subject to other flood hazards. The property could be inundated by a flood with a magnirude greater than the base nood or by localized flooding not shown on the effective N ationai Flood Insurance Program (N t' 11') map. The eEect or a LO!v1A is that it removes the Federal requirement for the lender to require flood insurance coverage for the property. The LOMA is not a waiver of the condition that the p~operty owner maintain flood insurance coverage for tbe propeny. Only the lender can waive the flood insurance purchase requirement because the lender imposed the requirement. TIle property owner must request and receive a written waiver from the lender before canceling the policy. The lender may determine, on its own as a business decision, that it wishes to continue the flood insurance requirement to protect its financial risk on the loan. If the lender decides to release the property owner from the flood insurance requirement, and the property owner decides to cancel the policy and seek a refund, the Nt'll' will refund the premium paid for the current policy year, provided that no claim is pending or has been paid on the policy during the current policy year. The property owner must provide the written waiver to the property insurance agent or company that is servicing his or her policy. The agent or company will then process the refund request. The LOMA provides t .t:.~v1A's comment on the mandatory flood insurance requirements of the ~rll' J.S they apply to a particular property. A LOMA is not a building permit, nor should it be construed J.S such. Any development, new construction, or substantial improvement of a property impacted by a LOMA must comply with all applicable State/Commonwealth, local, and other Federal criteria. Even though the property is not located in an SFHA, as mentioned in the LOMA, it could be flooded by a flooding event with a greater magnimde than the base flood. In fact, more than 25 percent of all losses in the Nt" il' occur to property located outside the SFHA in Zones B, C, X (shaded), or X (unshaded). More than one-fourth of all policies purchased under the Nt'lt' protect property located in these zones. That risk is just not as great as the flood risk to property located in SFHAs. To offer flood insurance protection to owners of such property, the Nt H' offers twO types of flood insurance policies: the Standard Policy e Here are the facts you need to know before you decide. Disaster assistance will be available if my home (or business) is flooded. I don't need to buy flood insurance! Did you know that, before most forms of Federal disaster assistance are offered, the President must declare a major disaster? e Did you know that the Federal Emergency Management Agency's Individual and Family Grant Program (for Personal Property) and Temporary Housing Program (for Home Repair and Rental Assistance) are available only if the President declares a major disaster and makes that assistance available? Did you know that more than 90 percent of all disasters are not Presidentially declared? Did you know that the most typical form of Federal disaster assistance is a loan that must be paid back with interest? Did you know that the average Individual and Family Grant payment is less than $2,500? Did you know that, to qualify for Home Repair Assistance, your home must have relatively minor damage that can be repaired quickly? Did you know you cannot qualify for Rental Assistance unless your home has been destroyed or significantly damaged? ( over)