The Horn Park neighborhood has been protected from flooding since late 2013, but the City of Moorhead has just gotten word that the Horn Park levee/floodwall system has been accepted for FEMA accreditation in the form of a Letter of Map Revision (LOMR).
Mayor Del Rae Williams stated “I am delighted with this news. I am so pleased for these 117 Moorhead property owners to be relieved of mandatory flood insurance and eligible for low “preferred” rates. It means they can invest those dollars elsewhere in their budgets, and it makes homes in this neighborhood more valuable and marketable in the future.”
The City has removed 240 homes from the floodplain since 2009. The levees and floodwalls built in the past five years are also important elements of Moorhead’s flood protection critical to remaining riverfront homes and neighborhoods. All are major benefits resulting from the $105 million investment that the State of Minnesota, the City of Moorhead, and Moorhead residents have made in flood protection since 2009.
City Engineer Dr. Bob Zimmerman reports that the Horn Park Levee accreditation is the first of five FEMA accreditation requests planned for floodplain areas managed by the City of Moorhead. Provided these accreditation requests are successful, flood insurance requirements would be removed for an estimated additional 42 properties. Please note this does not include recently annexed Oakport where additional flood mitigation efforts are planned. Buffalo-Red River Watershed Board will also be seeking accreditation for eligible areas of the Oakport neighborhood.
More Details on the Horn Park LOMR
- The change is expected to become effective on August 14, 2015 following publication and a statutory appeal period.
- 117 properties generally between I-94 and 34th Avenue South are affected.
- The LOMR will eliminate mandatory flood insurance requirements associated with Federally-backed mortgages.
- Property owners will be able to purchase voluntary flood insurance at preferred rates and are encouraged to do so.
- While some property owners may not have been required to carry flood insurance, in 2014, 106 Horn Park property owners carried flood insurance, paying $88,000 in aggregate premium expense.
- Individual policies in 2014 ranged from $315 to $4,700, based upon elevation, flood zone, and “grandfathering” status. While these property owners may still wish to maintain voluntary flood insurance, their homes would qualify in the lower cost “preferred risk” category based on the LOMR.
The financial savings in flood insurance premiums for the neighborhood will grow over time. As properties are sold to new owners, costly flood insurance premiums that may not have been required for the previous owner but would have been mandatory for the new owner will no longer apply. The ultimate savings will likely be two to three times the amount of premiums paid in 2014.
For further information, please contact the City of Moorhead Engineering Department at 218.299.5390.
