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fd®i2THVdE5T ASSCiCfATED COhlSULTAIVTS, itdC. <br /> x ~u <br /> 4800 Olson Memorial Highway, Suite 202, Golden Valley, MN 55422 <br /> Telephone: 763.231 .2555 Facsimile: 763.231.2561 plannersCnacplanning.com <br /> v~ <br /> MEMORANDUM <br /> <br /> TO: Little Canada Planning Commission <br /> FROM: Carie Fuhrman /Stephen Grittman <br /> DATE: March 4, 2010 <br /> RE: Little Canada - Fooodplain Ordinance Update <br /> NAC FILE: 758.10 - 09.11 <br /> BACKGROUND <br /> The Federal Emergency Management Agency (FEMA) recently updated the Flood <br /> Insurance Rate Maps (FIRMs) for numerous communities, including Little Canada. The <br /> City of Little Canada has received official notification, dated December 4, 2009, from <br /> FEMA informing the City that the updated FIRMS will become effective on June 4, 2010. <br /> In order for the City of Little Canada to remain participants in the National Flood <br /> Insurance Program (NFIP), the City must update/revise the existing floodplain ordinance <br /> and adopt the following items by the June 4, 2010 study/map effective date: <br /> 1. The updated FIRM panels (floodplain maps); <br /> 2. The Flood Insurance Study (FIS) report for Ramsey County, which contains <br /> information regarding flooding in the County, is developed in conjunction with the <br /> FIRM panels; and <br /> 3. The NFIP regulations, according to 44 Code of Federal Regulations, Section <br /> 60.3. <br /> BACKGROUND AND ANALYSIS <br /> Flood Insurance Rates. In addition to Little Canada utilizing the FIS report and FIRM <br /> to manage development in the floodplain, FEMA will also utilize the FIS report and <br /> FIRM to establish appropriate flood insurance rates. On the effective date of the <br /> revised FIRM (June 4, 2010), actuarial rates for flood insurance will be charged for all <br /> new structures and substantial improvements to existing structures located in the <br /> identified Special Flood Hazard Areas (SFHAs). The SFHA is the area subject to <br /> flooding by the 1 °/o annual chance flood (100-year flood). <br /> These rates may be higher if structures are not built in compliance with the floodplain <br /> management standards of the NFIP. The actuarial flood insurance rates increase as <br /> the lowest elevations (including basement) of new structures decrease in relation to the <br /> <br />