The National Flood Insurance Program (NFIP) plays a critical role in directing the use and development of flood-prone areas and managing the risk of flooding for residential properties. Through member feedback it has come to our attention that most multifamily developers work with an insurance agent and subsequently have limited interaction with the program. As this is something that can have a major impact on the cost of construction and annual premiums we would like to take the opportunity present our members with an “NFIP 101” and specifically highlight the interplay with multifamily developments.
NFIP reauthorizations in the past have been heavily focused on single family residential and have lacked consideration for multifamily and commercial. NAHB wants to take this opportunity to ensure multifamily is a priority.
This call will serve as a detailed overview of the NFIP program and provide clarity around how NFIP impacts multifamily developers and their projects. Jessica Hall, Federal Legislative Director, and Tamra Spielvogel, Environmental Policy Program Manager, will be leading this call.
After this call NAHB will be looking to you, as our multifamily members, to provide us with any thoughts/feedback/changes you have regarding the program and its upcoming reauthorization.
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