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WS – Item #2 WORK SESSION STAFF REPORT Work Session Item No. 2 Date: April 4, 2016 To: City Council From: Diane Hankee and Katy Thompson, WSB Engineering Re: FEMA Floodplain Map Revisions Background As part of a national five-year map modernization effort, FEMA flood insurance rate maps have been updated for Anoka County, effective December 16, 2015. These maps are used to determine flooding risks and flood insurance premiums for property owners. The City of Lino Lakes was first mapped in 1976, with the last map revision occurring in 1982. Since the adoption of the new flood risk maps, residents in Lino Lakes have begun receiving notices from their mortgage lenders notifying them of their flood risk and requirements for flood insurance. These notices are part of updates to the National Flood Insurance Program due to the Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014. National Flood Insurance Program Updates The Flood Insurance Reform Act of 2012 phases out subsidies for grandfathered rates and requires homeowners pay for the full risk of their property, as determined by the elevation of their home in relation to the flooding source elevation. The Homeowner Flood Insurance Affordability Act of 2014 gave lenders the ability to purchase flood insurance, at the borrower’s expense, if at any time during the life of the loan it is determined that the home is not covered by flood insurance or is inadequately covered by flood insurance. After FEMA updates the Flood Insurance Rate Maps, lenders review the revised data against their policies and notify affected borrowers of the need to obtain flood insurance within 45 days of notification or the lender will purchase insurance on the borrower’s behalf. Since Lino Lakes was first accepted into the National Flood Insurance Program in 1978, there have been only minor changes to the floodplain extents. With the latest map revision in 2015, the maps were provided digitally and updated with aerial photos and landmarks to make the maps easier to read. With the older maps, it was sometimes difficult to determine if a structure was in or out of the floodplain; now with the new maps, residents potentially being notified for the first time that they are in the floodplain, even though they may have always been in it. 2015 Flood Insurance Study