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<br />Guide For Approximate Zone A Areas <br /> <br />Floodplain Management <br /> <br />I. <br /> <br />j <br />l <br /> <br />I <br /> <br />~ <br />I <br />I <br />l <br />I <br />1 <br />l <br />j <br />I <br /> <br />Advantaaes of DeveloDina BFE Data <br /> <br />While the NFIP regulations do not require that communities <br />develop BFE data in approximate Zone A areas when proposed <br />development is below the thresholds in NFIP regulations <br />Subparagraph 60.3{b) (3), there are significant advantages and <br />financial benefits for communities and individual property <br />owners that develop BFE data. These advantages and benefits <br />include: <br /> <br />. protecting structures up to the BFE will minimize and <br />reduce future flood losses, resulting in long-term <br />savings to the individual, the community, and the <br />National Flood Insurance Fund; <br /> <br />. flood insurance policies in approximate Zone A areas that <br />are rated using a BFE will often qualify for <br />significantly lower insurance rates than policies that <br />are rated without a BFE. The difference in flood <br />insurance premiums could be substantial; <br /> <br />. less burden will be placed on the permit official because <br />he or she can require protection to a specified <br />elevation. without a BFE, the permit official must make <br />judgements as to what constitutes "reasonably safe from <br />flooding" and "constructed with materials and practices <br />that minimize flood damages"; <br /> <br />. the NFIP's Community Rating System establishes flood <br />insurance premium discounts of up to 45 percent for <br />policy holders within communities that have a floodplain <br />management program that exceeds NFIP minimum <br />requirements. Sizable Community Rating System credits <br />are available for Community Rating system communities <br />that develop BFEs for areas designated as approximate <br />Zone A on their Flood Hazard Boundary Map or FIRM, or <br />that require site-specific engineering analyses for <br />development proposals; and <br /> <br />. by specifying a BFE in an approximate Zone A area, a <br />building or property can, in some circumstances, be <br />removed from the floodplain by issuance of a Letter of <br />Map Amendment or Letter of Map Revision in accordance <br />with Part 65 and Part 70 of the NFIP regulations. While <br />these procedures eliminate the reguirement that flood <br />insurance be purchased as a condi tion of obtaining a loan <br />from a Federally insured or regulated lender, a lending <br />institution may, at its discretion, require the purchase <br />of flood insurance. <br /> <br />111-8 <br />