Changes to New York flood maps are a reflection of technology advancing

Source(s)
ValuePenguin

By Michael Thrasher 

The Federal Emergency Management Agency has agreed to revise flood maps in New York City after an independent analysis – another sign that technology around flood risk is improving.

In a joint statement released Oct. 17, FEMA and New York City Mayor Bill de Blasio said independent analysis used in an appeal of flood hazard maps for the city would be taken into consideration to draw new ones. 

It’s a win for many New York City residents who were facing increased insurance costs that might have been unjustified according to the risk. Updated map zones released by FEMA in January of 2015 included 35,000 new homes and buildings in the highest-risk areas, raising concerns about their affordability. Any home or building in the highest-risk areas with a federally-backed mortgage is required by law to have flood insurance, which might cost thousands of dollars each year. 

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