NEW FLOODPLAIN MAPS TO BECOME EFFECTIVE JUNE 2020

Corinth, TX, January 21, 2020 - Corinth’s new Flood Insurance Rate Map (FIRM) will be made effective by the Federal Emergency Management Agency (FEMA) on June 19, 2020. The FIRM map shows the location of floodplains within the City in accordance with Federal law.

Residents and business owners who own property in high-risk areas (sometimes referred to as Special Flood Hazard Areas [SFHAs]) are required to purchase flood insurance if they have a mortgage from a federally regulated or insured lender. They also must carry the insurance for the life of the mortgage. Residents and business owners with a mortgage on a building outside high-risk areas can also purchase flood insurance and may be eligible for lower-cost Preferred Risk Policies.

Corinth is one of the more than 22,100 communities in the U.S. participating in the National Flood Insurance Program (NFIP). NFIP was established with the passage of the National Flood Insurance Act of 1968. The NFIP is a federal program enabling property owners in participating communities to purchase flood insurance as protection against flood losses, while requiring state and local governments to enforce floodplain management ordinances that aim to reduce future flood damage.

For those properties that are being added to the floodplain (zone x to zone A, AE, AO) please investigate grandfathering rules for obtaining flood insurance.  Insurance obtained before maps become effective will allow for a graduated step plan for these properties that are added to the floodplain.  To find out specifics for your property you will need to contact a flood insurance specialist through your homeowners insurance.

All residents are encouraged to review the updated maps available on the City of Corinth website in order to determine where their home or business falls on the floodplain map. If your structure is being added to the floodplain, it is highly recommended to obtain flood insurance prior to the preliminary maps becoming effective in order to potentially save money on your annual rate.

For additional information or questions about these documents, please visit our website or contact George Marshall, City Engineer at 940-498-3265.