- Slides: 32
“Disclosing Flood Risk” NATIONAL FLOOD INSURANCE PROGRAM Carol Tyau-Beam, P. E. , CFM State NFIP Coordinator Department of Land Natural Resources, Engineering Division Honolulu Board of Realtors – Brokers Forum November 23, 2009
Insurance Implications Regulatory Implication An owner’s vision and/or expectation for the property may not be realized. WHY IS IT IMPORTANT TO DISCLOSE FLOOD RISK? Insurance Implication Flood Insurance will increase monthly expenses for a property owner.
The NFIP was established by Congress in 1968 through the National Flood Insurance Act. • Establish Flood Risk FEMA Maps • Authorize Sale of Flood Insurance • Establish Floodplain Property Owner Local Community Management Program • Regulate Development in SFHAs • Comply with local floodplain management regulations • Purchase Flood Insurance • Require Flood Insurance Lenders for any Federally-Backed Mortgage HOW THE NFIP WORKS … National Flood Insurance Program
Low. Moderate Risk High Risk A Zones (A, AH, AO, AE) V Zones (V, VE) • Mandatory Flood Insurance Apply • Building Standards Apply B, C, X Zones D zones = Undetermined FLOOD MAPS – FLOOD ZONES Types of Flood Zones
Examples of Floodplain Management Regulations: § Elevation requirements (A and V zones) § Free of Obstruction below lowest floor (V zones) § Use restrictions § Require additional studies (AEF zones) § Substantial Improvements (Improvement Cost exceed 50% of Market Value of Structure) => elevate existing pre-FIRM structure BUILDING AND DEVELOPMENT STANDARDS Floodplain management regulations are adopted to regulate construction in high flood risk areas.
County of Hawaii Revised Ordinance of Honolulu Chapter 21 Land Use Ordinance Article 9 Special District Regulations § 21 -9. 10 through 21 -9. 10 -14 Hawaii County Code Chapter 27 Floodplain Management § 27 -1 through 27 -38 County of Kauai County of Maui Kauai County Code, Chapter 15 Article 1 Floodplain Management § 15 -1. 1 through 15 -1. 9 Maui County Code, Title 19 Chapter 19. 62 Flood Hazard Areas § 19. 62. 010 through 19. 62. 180 Copies of each County’s Floodplain Management Ordinances can be found at: www. hawaiinfip. org LOCAL FLOODPLAIN MANAGEMENT REGULATIONS City and County of Honolulu
County of Hawaii Mario Siu-Li, CFM Department of Planning and Permitting 650 South King Street 8 th Floor Honolulu, Hawaii 96813 (808) 768 -8098 Frank Demarco, P. E. , CFM Department of Public Works Engineering Division 101 Pauahi Street, Suite 7 Hilo , Hawaii 96720 -4224 (808) 961 -8042 County of Kauai County of Maui Mario Antonio, P. E. , CFM Department of Public Works Building Division 4444 Rice Street Suite 175 Lihue , Hawaii 96766 (808) 241 -4873 Francis Cerizo, CFM Department of Planning 250 South High Street Wailuku , Hawaii 96793 (808) 270 -7771 LOCAL FLOODPLAIN ADMINISTRATORS City and County of Honolulu
Substantial Improvements Letter of Map Changes HOW TO BEST MARKET A PROPERTY Building Standards Flood Insurance Grandfathering Provisions
THE IMPORTANCE OF UNDERSTANDING THE NFIP
LISTING FOR VACANT LAND
LISTING FOR VACANT LAND
This property is NOT in an AE zone. It is in a VE zone. What is the significance of this error in flood zone designation? The proposed structure will be subject to: • Higher flood insurance premium; and • Stricter building standard requirements DO YOUR HOMEWORK …. Do your homework…. . üVerify the flood zone designation
(based on October 1, 2009 rate schedule) Flood Zone Building Only ($250 K) Building & Contents ($250 K / $100 K) AE $1, 106 $1, 560 VE (RC < $334 K) $5, 149 $6, 809 VE ($334 K < RC < $500 K) $6, 824 $8, 534 VE (RC > $500 K) $9, 624 $11, 284 Assumptions: • Post-FIRM (built after 9/3/1980 for City and County of Honolulu) • Construction based on minimum regulations (elevated @ BFE) • Single Story Residential construction • Standard deductible ($1000) • Range of VE premiums based on replacement cost (RC). FLOOD INSURANCE PREMIUMS Estimated Annual Flood Insurance Premium
- Are the prospective buyers interested in the building plans being offered with this listing? Structures built on this site must be elevated to 21’ msl and area below kept free of obstruction. If the purchase price includes the building plans for this property, be sure that the plan is suitable for this site. DO YOUR HOMEWORK …. Do your homework…. . ü Understand what your clients plans are for this property.
Question: How high will the new house have to be elevated ? ? Note: This DOES NOT replace an actual survey of the property
WHERE CAN YOU FIND FLOOD HAZARD INFORMATION
www. hawaiinfip. org VIEWING THE MAPS …. Flood Hazard Assessment Tool
Address Identify Three ways to locate a property …. SEARCH FUNCTIONALITY TMK
The following areas have been affected: • Southern shoreline from Kaena Point to Portlock. • Waimanalo (Mekia Street) • Laie (BYU campus and along Kam Hwy between Wahinepee & Puuahi) Note: The preliminary DFIRMs for Oahu and Kauai are tentatively scheduled to go effective next Fall (2010) at the earliest. LAYERS AVAILABLE …. On July 22, 2009 FEMA released preliminary DFIRM updates for the City and County of Honolulu
SEARCH BY ADDRESS Tips: • Turn off pop-up blockers; • Enter street name only (NO house numbers or suffix)
CURRENT FLOOD ZONE
PROPOSED FLOOD ZONE
In order for FEMA to recognize a levee system as providing protection from the base (1 -percent annual chance) flood, it must meet, and continue to meet minimum design, operation, and maintenance standards established in Section 65. 10 of the National Flood Insurance Program regulations. The design criteria include, but may not be limited to: • freeboard, • closure devices, • embankment protection, • embankment and foundation stability, • settlement, and interior drainage. • operation and maintenance plans must also be completed. For status of certifications call the respective County Floodplain Manager CERTIFICATION REQUIREMENTS Hawaii Levee Certifications are due February 1, 2010
OAHU LEVEE CERTIFICATIONS Waialae-Nui Stream, Honolulu
OAHU LEVEE CERTIFICATIONS Keaahala Stream, Kaneohe
OAHU LEVEE CERTIFICATIONS Kawainui Marsh Levee, Kailua
Wai Halana October 2009 Issue “When you Lose Your PAL” and “Hawaii PAL Period Ends February 1, 2010” Download Copy: www. hawaiinfip. org WAI HALANA Suggested Reading:
MAHALO …. Thank You !!!