FEMA Reinstates Federal Flood Risk Standards
The Federal Emergency Management Agency (FEMA) on Aug. 27 announced a new interim policy to partially implement the Federal Flood Risk Management Standards (FFRMS) that would require certain structures located in Special Flood Hazard Areas to conform to higher flood elevation standards if they use Hazard Mitigation Assistance (HMA) grant funds.
Although the FFRMS was reinstated through Executive Order 14030 Climate-Related Financial Risk, signed by President Biden on May 20, the interim policy — effective immediately — is the first step toward implementation.
While further actions are anticipated by FEMA and other agencies to fully implement FFRMS, the interim policy applies to certain projects funded through hazard mitigation grant programs. Specifically, the interim policy applies to Fiscal Year 2021 funding for the Building Resilient Infrastructure and Communities (BRIC) and Flood Mitigation Assistance (FMA) programs; the Hazard Mitigation Grant Program (HMGP) for any major disaster declared on or after Aug. 27 and assistance authorized for all 59 COVID-19 disaster declarations. In addition, it applies to HMGP Post Fire for any Fire Mitigation Assistance Grant (FMAG) declarations issued on or after Aug. 27.
The interim policy partially implements the FFRMS by requiring higher flood elevations for three types of actions — elevation, dry floodproofing and mitigation reconstruction — when done in the Special Flood Hazard Area. FEMA’s approach requires additional elevation (Base Flood Elevation plus 2 feet) except in situations where doing so would result in the project being unable to meet applicable cost-effectiveness requirements.
For more information on the Hazard Mitigation Assistance Grants, visit FEMA’s website.
Latest from NAHBNow
Elected officials at all levels play a role in finding solutions to make housing more affordable. Here’s how NAHB members can make a difference this election cycle.
NAHB submitted comments on Oct. 9 supporting the Trump administration’s September 2026 supplemental waters of the United States (WOTUS) proposal. The proposal creates a new framework for determining which waters and wetlands are federally regulated under the Clean Water Act.
Latest Economic News
Labor shortages in the home building industry are becoming more widespread, according to recent results from the NAHB/Well Fargo Housing Market Index (HMI) survey.
Higher energy prices pushed inflation to a four-month high in September, keeping pressure on the Fed as inflation has remained above its 2% target for more than five years.
Existing home sales rose after three months of declines as improved inventory gave buyers more negotiating power. As buyers wait for rate relief, homes are sitting on the market longer and for-sale inventory reached the highest level in over a decade.