11-15-1976 Planning Packet - Laserfiche WebLink

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- s - covera^ for all existing structures regardless of location. Both layers of coverage under the Regular Program for new structures in the identified special flood hazard areas are made available at actuarial rates reflecting the degree of flood risk for each property. Actuarial premium rates for new construction built at required elevations are comparable to or« in some casest lower than the subsidized rates. However»the rates for new structures built i]iq>roperly, in the special flood’ hazard areas will be very hifgti reflecting the appropriate degree of flood risk. The following chart sets forth the available limits of coverage as well as appropriate premium rates under the programs (2) _ _ _ _ _ _ _ _ _ _ _ _ _ _ Regular Program _ _ _ _ _ _ _ _ _ _ _ Single Family Residential Other Residential Non-Residentlal Contents* Residential (per unit) Contents* Non-Residentlal (per unit) Qnergency Pronaa First Layer (1) Second Layer Limit I 35.000 100*000 100*000 10,000 100,000 Subsidized Rates (Per 1100) 25^ 25^ lsO0 35^ 75^ Limit •III# I 35,000 100, 100, 10,000 100, •III# •!•!• Actuarial Rates Varies I'otal Limits of Coverage I 70,000 200,000 200,000 20,000 200,000 Notes: (1) (2) Only the first layer of coverage is available under the Ehiergency Program. a. b. d. e. Full coverage is available under the Regular Program for all structures in the comminlty. New construction and substantial improvements in the flood hazard areas oust pay actuarial rates for all coverage. All existing structtires must pay actuarial rates for the second layer of coverage and have the option of paying either the subsidized or actuarial rate for the first layer, whichever is lower. New construction outside the flood hazard area is treated the same as Sie^maxLBum actuarial rate for 1-1: family residential structures is $0^ per $100 of coverage under certain conditions. - more - 0 I .1 ^11^1