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<br />FlooJ 1r1~uy{1V\(Q... <br /> <br />The National Flood Insurance Program is a Federal program <br /> <br />that: enables property owners to buy flood insurance at a reasonable, <br /> <br />subsidized cost. In return, communities are required to carry out <br />~/ <br /> <br />floodplain management measures to pro'tect lives and new construction <br /> <br />from future flooding. <br /> <br />Flood insurance through the Na'tional Flood Insurance Program <br /> <br />has been available through any licensed insurance agent or broker <br /> <br />to all residents of Montrose and Montrose County under the @mergency <br /> <br />phase, of the program since 1974. <br /> <br />Increased levels of flood insurance <br /> <br />may soon be available under the reg'ular program after the Federal <br /> <br />Insurance Administration completes their flood insurance studies <br /> <br />for Montrose and Montrose County. 'rllese studies are currently in <br />4nd olh~ y I/OI'l-'l_J!r.IJ1 )Hlll <br />progress and will expand on information developed in this report]. <br />/\ <br /> <br />In order for residents to be able t,o buy this additional layer <br /> <br />of coverage, the city and county mu.st agree to manage floodplain <br /> <br />I <br /> <br />areas. This means regulations will have to be adopted to control <br /> <br />{vlv' , <br />construction that might lead to flood hazards for the ^ "({Ur-"'''-!::' C>' pr'., <br /> <br /> <br />j .; ihic,,.,> and require that other construction in flood hazard areas meet <br /> <br />specific minimum standards. <br /> <br />The following chart briefly summarizes the available limits <br /> <br />of coverage and the appropriate premium rates under the emergency <br /> <br />and regular programs. <br /> <br />I <br /> <br />I <br />