Fargo, N.D’s acting mayor says the Federal Emergency Management Agency has moved to continue to allow homeowners to have basements in the city’s new floodplain.
FEMA is responsible for the National Home Insurance Program and does not always allow basements in homes that are within a floodplain. Fargo has been exempted from the ban for decades, but a new recently issued floodplain map required a renewal of that exemption.
KFGO-AM reports the exemption has allowed homeowners in the floodplain who have flood-proofed basements to keep their flood insurance premiums low. City leaders say premiums could have increased to up to $12,000 per household if the exemption hadn’t been renewed.
Acting Mayor Tim Mahoney says the renewal came after a “big fight” between city officials and FEMA.
Was this article valuable?
Here are more articles you may enjoy.
Farmers Looks to Make it Easier for Consumers to Understand Insurance 
Honda’s Insurance Agency Operations Stall, Services ‘Paused’ 
20 Years After Hurricane Katrina: Are Insurers Ready for a Different $100B Disaster? 
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
