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The City of Fargo is working to deliver important information on a new preliminary flood plain map to several thousand property owners. The map means thousands of Fargo property owners in certain neighborhoods south of Interstate 94, along the city’s drain network, and some areas north of Hector International Airport, could fall under federal flood insurance requirements.

The map is a product of the Federal Emergency Management Agency’s attempts to update Fargo’s 100-year floodplain.

Relief from having to pay flood insurance could be coming within a few years, as several projects to fortify internal areas of the City of Fargo against flooding are being designed to provide protection to a 42.5 feet river stage. “That will remove a significant amount of property from the requirements of flood insurance. We think that’s extremely important,” said Dennis Walaker, Mayor of Fargo.

The internal projects are being designed to work in concert with the proposed Fargo-Moorhead Area Diversion Project. They will allow the Diversion to pass increased Red River flows through Fargo and Moorhead during extreme floods. Increased flows will mean fewer impacts to upstream communities.

In addition, the Diversion will help provide protection to levels higher than 42.5 feet. “We are continuing to pursue that option as the ultimate solution for the Fargo-Moorhead metro area in terms of flood protection,” Walaker said. “FEMA has a much lower flood plain than the Corps of Engineers feels the river could someday get to.”

In the meantime, maps showing FEMA’s preliminary flood plain are available at Fargo Flood Insurance.com

Buying Flood Insurance

Your insurance agent is the best source of flood insurance information. You can learn more about this important topic at Floodsmart.gov

Understand that homeowners insurance does not cover flooding. Because of this, your lender is required to determine if you need to buy a separate flood policy. A mortgage lender has the authority to select flood insurance on behalf of the borrower and add the cost to their monthly payment. However, a borrower typically has the option to purchase flood insurance on their own.

If you are interested in learning more about flood insurance, or purchasing flood insurance, we encourage you to contact your insurance agent.

Grandfather Rules

To recognize policyholders who have remained loyal customers of the National Flood Insurance Program (NFIP) by maintaining continuous coverage and/or who have built in compliance with the FIRM, the Federal Insurance and Mitigation Administration has Grandfather rules to allow such policyholders to benefit in the rating for that building.

Preferred Risk Policy (PRP) Eligibility Extension

In August 2012, FEMA announced the extension of the of the Preferred Risk Policy eligibility under the National Flood Insurance Program (NFIP) until further notice. This will mean lower flood insurance rates for owners and tenants of eligible property, for a longer period of time. View the FEMA PRP eligibility extension announcement.

More information: Fargo Flood Insurance.com

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