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<br />2 <br /> <br />It should, lloIoRver, be recognized that floods larger than the base flood do <br />occur, In view of your canmuni ty' s canmi t:ment, as expressed in the <br />Resolution of Intent adopted to qualify for initial eligibility in the NFIP, <br />your camnunity should exercise care in evaluating new developnent which <br />could aggravate or create flood problems in your ccrnmunity or in adjacent <br />camnunities, <br /> <br />2, 'Ibe entire canmunity is now classified as ZOne C, In ZOne C, insurance <br />coverage is available on a voluntaJ:y basis at low actuarial, nonsubsidized <br />rates, <br /> <br />3, Sane owners of properties shown as flood-prone on the rescinded map may have <br />been required to purchase flood insurance as a coooition to obtaining <br />Federal or federally-related financial assistance under Section 102 of the <br />Flood Disaster Protection Act of 1973, as aneooed, 'Ihose property owners <br />who do not wish to maintain flood insurance coverage may be entitled to a <br />premium refund for the current p:>licy year, provided the lender is willin:J <br />to release the affected rrortgagor iran the flood insurance purchase <br />requirement, and provided no claim has been p;lid or is peooing on the <br />pJlicy, 'Ib receive a premium refund, the rrortgagor sh:>uld obtain a <br />statement fran the bank or rrortgagee certifying that flood insurance is no <br />longer required, 'Ihe rrortgagor should submit the statement to the insurance <br />agent who originally sold him or her the flood insurance p:>licy, The agent <br />will then initiate the p:>licy cancellation and refund procedure, <br /> <br />'Ibis map rescission and conversion to the Regular Program are based on <br />information available to us at this time, If authoritative information <br />becanes available showin:J that special flood hazard areas exist in the <br />camnuni ty, FEMA will issue a map identifying those areas in accordance wi th <br />Section 20l(c) of the Flood Disaster Pt:otection Act of 1973, as anended, <br />'Ibe camnunity, at that time, ~uld need to implement flood plain management <br />regulations for those areas, in accordance with Section 60,3(b) of the NFIP <br />regulations, <br /> <br />In surrnnaJ:y, by continuin:J its p;lrticip;ltion in the Regular Program of the <br />National Flood Insurance Program, the canmunity makes available to its citizens <br />on a voluntaJ:y basis additional amounts of insurance coverage at generally lower <br />rates than ~uld be available under the Emergency Program, 1'Ihile no new flood <br />plain management measures are required, canmuni ties are encouraged to implement <br />regulatoJ:y measures to protect developnent against hazards as they are known to <br />exist locally, <br /> <br />