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Base Flood: Also referred to as
the 100-year flood, it is a flood having a 1 percent probability
of occurring in any given year.
Base Flood Elevation (BFE): It is
the ground elevation that establishes the boundary of a Special
Flood Hazard Area. Any structure with a ground level at or
above this elevation would not be in a Special Flood Hazard
Area.
Community: Under the NFIP, a
community is a political entity that has authority to adopt
and enforce floodplain ordinances for the area under its jurisdiction.
Elevation Certificate: The Elevation
Certificate is a document used to provide elevation information
necessary to determine the proper insurance premium rate,
or to support a request for a Letter of Map Amendment or Letter
of Map Revision.
FEMA: Federal Emergency Management
Agency, which is the federal agency under which the NFIP is
administered.
Flood: A general and temporary
condition of partial or complete inundation of normally dry
land areas from the overflow of inland or tidal waters or
from the unusual and rapid accumulation or runoff of surface
waters from any source.
Flood Insurance Rate Map (FIRM):
Insurance and floodplain management map issued by FEMA that
identifies areas of 100-year flood hazard in a community.
In some areas, the map also shows base flood elevations and
500-year floodplain boundaries and, occasionally, regulatory
floodway boundaries. These maps are also referred to as Flood
Maps.
Floodplain: Any land area susceptible
to being inundated by floodwaters from any source.
Insurable Improvements: Under the
NFIP, this means a walled and roofed building with at least
two rigid exterior walls or a building in the course of construction
that qualifies for insurance coverage or a manufactured home
anchored to resist floatation.
Lender Identification Number (Lender
ID): For FDIC insured lenders this is their FDIC Certificate
Number and for Federally insured credit unions it is their
charter/insurance number. This number should be included on
a flood determination.
Life of Loan Maintenance: A service
provided by flood companies that monitors the flood hazard
status of a secured structure for the term of the loan.
Letter of Map Amendment (LOMA):
An amendment to the effective FEMA map, which establishes
that a property is not located in a Special Flood Hazard Area.
It is used when the natural topography at the time that the
map was issued elevates the insurable improvements above the
BFE. A LOMA is issued only by FEMA.
Letter of Map Revision (LOMR):
An amendment to the currently effective FEMA map which revises
flood zones on the map after such activity as grading or filling
raises the level of the ground above the BFE. A LOMR is issued
only by FEMA.
Multiple Flood Zones: More than
one flood zone affecting a property.
National Flood Insurance Program (NFIP):
Federal program to identify flood prone areas nationwide and
make flood insurance available to the owners and leasers of
property in the communities that participate in the program.
Nonparticipating Community: A community
that does not participate in the NFIP program. NFIP insurance
is not available in a non participating community.
On-Site Determination: A service
provided by Midwest Flood Zones LLC in which a field inspector
goes to a property that is affected by multiple flood zones
and completes a flood zone determination.
Participating Community: A community
participating in the NFIP. NFIP flood insurance is available
in all areas of participating communities.
Partial Determination: An incomplete
determination provided by some flood companies to indicate
that a property is partially affected a SFHA.
Special Flood Hazard Area (SFHA):
Darkly shaded area on a flood map that identifies an area
that has a 1 percent chance of being flooded in any given
year (100-year floodplain). Over a 30-year period there is
a 26 percent chance that this area will be flooded.
Standard Flood Hazard Determination Form
(SFHDF): A one page standard form for recording the
results of the determination of whether a building or mobile
home is located in a SFHA.
Zones:
A: Areas subject to inundation by the 100-year flood
event. Mandatory flood insurance purchase requirements apply.
B, C, and X: Areas identified in the community as areas
of moderate or minimal hazard from the principal source of
flood in the area. Flood insurance is available in participating
communities but is not required by regulation. (Zone X is
used on new and revised maps in place of Zones B and C.)
D: Unstudied areas where flood hazards are undetermined,
but flooding is possible. No mandatory flood insurance purchase
requirements apply, but coverage is available in participating
communities.
V: Areas along coasts subject to inundation be the
100-year flood event with additional hazards associated with
storm-induced waves. Mandatory flood insurance purchase requirements
apply.
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