Outer Banks Housing: When Will the new Dare Flood Maps Become Effective?
Although Currituck County has already released their new flood maps, Dare County maps are being held up by FEMA or they are being re-developed. The latest information on the maps shows the Letter of Final Determination on the maps due sometime in April.
From the receipt of the Letter of Final Determination, the County has six months to adopt the map. Officials from Dare County and the six Dare County municipalities have been working on a campaign to encourage policyholders to continue their flood insurance even if their property is no longer in a special flood hazard area (AE or VE zone) on the new maps. “Low Risk is not No Risk!”
They have also been working on developing local elevation standards for new development and redevelopment purposes. While the maps show 75% of Dare County properties coming out of the special flood hazard area, it is understood that the maps when developed did not take into consideration flood hazard factors such as heavy rain events, a high-water table damaged drainage infrastructure, etc. The maps were developed based on the hazard of coastal oceanfront storm surge. Therefore, do not assume you will be able to enclose the first floor or add on because of lower base flood elevations shown now on the preliminary maps. You WILL likely get a great break on the cost of flood insurance.
Be sure to continue the coverage because once there is a lapse, when you re-enter the NFIP program or get a new flood policy elsewhere you will then be charged the latest established rate. You will save in the long-run when maps are redeveloped in the future and base flood elevations go up and properties go back in the AE or VE zones, by keeping your coverage and being grandfathered. Check out www.Obxfloodmaps.com for more info.