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<br />2. Protect the public from avoidable financial <br />expenditures for flood control projects, flood <br />relief measures, and the repair and restoration <br />of damaged publ ic faci I ities. <br />3. Prevent avoidable interruption of business and <br />commerce. <br />4. Minimize victimization of unwary home and land <br />purchases. <br />5. Faci I itate the administration of flood hazard areas <br />by estab Ii sh i ng requ i rements that must be met before <br />use or development is permitted. <br /> <br />The Board's model flood plain regulations offer two options <br />for management of the 100-year flood plain. These are the <br />Hazard Area Concept and the Floodway Concept. <br /> <br />The Hazard Area concept defines the areas of the flood plain <br />in which waters of the 100-year flood attain a maximum depth <br />greater than one and one-half feet as a high hazard area, <br />and a depth less than this as a low hazard area. <br /> <br />The Floodway concept defines the channel of a stream and <br />adjacent flood plain areas that must be kept free of <br />development in order to safely pass the 100-year flood with <br />a minimal rise in the water surface elevation. The rise <br />must be no more than one foot to meet federal standards. <br /> <br />Flood Insurance <br /> <br />The National Flood Insurance Act of 1968 (Title XIII of the <br />Housing and Urban development Act, P.L. 90-448) recognized <br />the necessity for flood plain management. This Act makes <br />federally subsidized insurance avai lable to citizens in <br />communities that adopt regulations control I ing future <br />developments of their flood plain. Withe respect to <br />encroachment on the flood plain, the regulations require: <br /> <br />1. New residential construction or substantial <br />improvement of existing homes must have the lowest <br />floor level at or above the elevation of the 100-year <br />flood. <br />2. Non-residential construction must meet the same <br />standard or be flood proofed to that level. <br /> <br />The 1968 Act benefits owners of structures already in the <br />flood-prone areas by providing insurance coverage that had <br />been unavai lable through private companies. The Act created <br />a cooperative program of insurance against flood damage by <br />the private flood insurance industry and the federal <br />government. <br /> <br />The amount of coverage ava i I ab I e and the prem i um rate var i es <br />considerably depending on property location within the flood <br />plain and the property value. All property owners shown in <br /> <br />14 <br />