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<br />14 <br /> <br />An exception to this guideline involves Federal property listed on the <br />National Register of Historic Places. Such property should not be <br />demolished, modified, or disposed of without first affording the U. S. <br />Advisory Council on Historic Preservation an opportunity to comment <br />on the undertaking; nor should Federal assistance be denied to registered <br />historic places by reason only of their location in a flood hazard <br />zone. The Historic Sites Act of 1935 (Public Law 74-292) and the <br />National Historic Preservation Act of 1966 (Public Law 89-665) provide <br />directives and guidance in these matters. <br /> <br />(5). . . . . DECIDE ON TIlE CONDITIONS UNDER WHICH AN <br />EVALUA TION MUST BE MADE TO DETERMINE TIlE IMPACTS OF <br />INCLUDING OR EXCLUDING THE USE OF SITE Il'N A FLOODPLAIN. <br />SUCH EVALUATION MUST DEMONSTRATE CLEARLY THAT THE <br />USE OF THE SITE IS TO THE ADVANTAGE OF SOCIETY AS WELL <br />AS TO THE ADVANTAGE OF THE USER OF SUCH SITE. <br /> <br />The evaluation mentioned in this guideline may be based on an analysis <br />of the beneficial and adverse social, economic, and environmental <br />effects of proposed development in the floodplain as an alternative <br />to the same development outside the floodplain. Economic benefits <br />are not by themselves, sufficient basis for development in the <br />floodplain. It must also be demonstrated that the beneficial effects <br />are of such magnitude and importance to the community as to offset <br />the adverse effects. The standards used in these evaluations will be <br />those specified by the Water Resources Council for planning for water <br />and related land resources. <br /> <br />(6)..... SELECT THE FLOODS TO BE USED IN A FLOOD <br />HAZARD EVALUA TION TO FIT CONDITIONS OF TIlE AREA BEING <br />INVESTIGA TED. <br /> <br />The floods that need to be considered before selecting the evaluation <br />floods are the lOO-year flood (discussed under Guid..1ine 3), the flood- <br />plain flood discussed under Guideline 3, the regulatory floods used <br />by States or local governments, and lesser floods such as the 25 and <br />50-year floods, which are of use in evaluations when those floods' <br />elevations would extend outside the floodway. <br />