FEMA FIRM Updates
Flood Risk Open House
FEMA releases preliminary maps for flood areas along the City of Valdez coastline, Lowe River, Robe River, Valdez Glacier Stream, and Mineral Creek.
Valdez, AK – The Federal Emergency Management Agency (FEMA) and the State of Alaska Department of Commerce, Planning, and Economic Development will host a public meeting on Thursday, April 6, 2017 at 6:00 p.m. at the Valdez Civic Center to discuss draft flood map revisions in the City of Valdez and what they mean for property owners.
At the event, property owners and residents will have a chance to learn about the flood mapping process and what the changes mean for them. Residents will also have the opportunity to ask questions about how these maps will impact their property and community. The City of Valdez encourages property owners to examine the preliminary maps prior to the meeting, which can be viewed online on the States Risk MAP Portal or in person at City Hall located at 212 Chenega Ave.
With more advanced technology and better data, FEMA, in partnership with the State of Alaska Department of Commerce, Planning, and Economic Development, has issued preliminary flood maps for properties along the City of Valdez coastline. These revised maps depict the current risk of a base flood event, or the 1-percent-annual-chance of flood, for residents in the City of Valdez.
FEMA will continue to work with the City of Valdez to identify flood risks and mitigation plans, and when adopted, will be used for flood insurance, land use, and development decisions.
Flooding is the nation’s most common and most expensive natural disaster. According to national statistics, homes inside high-risk flood areas have a 26 percent chance of being damaged by flooding over the life of a 30-year mortgage, compared with a 9 percent chance of sustaining fire damage.
To learn more about federal flood insurance, visit www.floodsmart.gov.
View Proposed Changes on Web Map
Property owners are encouraged to be proactive in understanding the proposed FEMA FIRM map changes. Follow the steps below to learn how the proposed changes relate to you!
1) Go to the online web map by clicking the following link:
2) Read the map description on the panel to the left.
3) Zoom to your parcel location.
4) Compare the maps to review the proposed changes.
Understanding the Proposed Changes
There are several ways in which new delineated flood zones can effect a property owner.
→ The flood insurance premium rates for a property that is shown outside the SFHA on the effective FIRM are lower than the rates for a structure inside the SFHA.
→ If a new FIRM becomes effective for your community and your structure is now in an SFHA and you have federally related financing for your property and have not already purchased a flood insurance policy, your lender is required by law to document the flood zone determination and require that you purchase flood insurance. A 30-day waiting period follows the purchase of a flood insurance policy before it goes into effect. There are exceptions to the 30-day waiting period for policies purchased in connection with the making, increasing, extending or renewing a loan or certain map changes. If you do not purchase the insurance within 45 days after being informed that flood insurance is required, the lender is required to force-place the insurance and charge you for the cost.
→ If you do not have federally related financing it is still available to you. Please contact your insurance agent for more information, the purchase of flood insurance is a prudent means of protecting your financial interests.