Show Vernal property properly owners can get HUD flood insurance The U. U S S. S Department of Housing and Urban Development Development Development Develop Develop- ment announced that effective April 16 Vernal Utah has been accepted into the National Flood Insurance Program This means said Acting Federal Insurance Administrator Administrator Ad Ad- J. J Robert Hunter that individual property owners here are now eligible to buy flood insurance protection at affordable subsidized federally rates offering more extensive coverage under the lie expanded program authorized by the tie 1973 una Flood Disaster Protection A Act tWe t. t We think the new expanded National Flood Insurance Pr Program offers the best wu way of protecting property owners from the ravages of floods floats while easing the burden on the general public he said SINCE FLOOD insurance is isnow isnow isnow now available he added the law requires that it must be purchased by owners pf of property in areas identified as prone flood-prone by HUD BUD in order to tobe tobe tobe be eligible for virtually all forms fortis for illS of federal or federally federally- related financial assistance for building purposes in thos those areas This Tills would include filA or orVA orVA orVA VA mortgages loans from the Small Business Administration or loans from any federally- federally regulated or supervised banks and savings and loans institutions Institutions in in- WHILE FLOOD insurance is available to all aU residents of the community Mr Hunter Bunter emphasized emphasized emphasized em em- that the federal economic sanctions against building assistance will not apply to property outside the danger zones Under UMer the expanded program broader coverage can be obtained ob oh- ta tamed ined for tor all buildings and their contents The limit of insurance for tor single-family single homes is now and for other residential and residential non-residential buildings at the subsidized rate of 25 cents per of coverage Continued on Page 8 Flood insurance Continued from Page 1 The tate tale goes to 40 cents per for Cor residential non buildings The contents of ot all residential buildings can be Insured up to per pcr unit at 35 cents per of oC coverage and the rate goes to 75 cents per pcr for the contents of oC all aU residential non structures up to a maximum of ot In coverage per unit Policies are effective Immediately immediately Im im- im mediately during the first 30 days the Insurance becomes available After the first 30 days there Is a day 15 waiting period TilE THE POLICIES can be purchased from Crom any licensed local property insurance agent or broker The CNA Insurance 1660 Lincoln Street Suite I 1800 BOO Denver Colorado has been designated as the flood insurance servicing company for Cor this area Agents and brokers may obtain policy forms Corms rates flood insurance manuals and any other necessary information from Crom this company The FIA Mr Hunter explained explained ex ex- ex is in U the e process of oC publishing maps showing the special flood hazard areas in approximately communities com corn across the country He congratulated the local governing body here for Cor taking action before the July 1 deadline imposed under the act for Cor enrolling In the program TilE THE PROGRAM I is designed to stimulate individual participation participation par par- in it as protection against natural disasters and to help promote sound flood floodplain floodplain floodplain plain management on the part of oC local governing authorities In becoming eligible under the program a community must submit an application in which it certifies that it has adopted certain minimum flood floodplain floodplain floodplain plain management measures for the prone flood-prone areas of that community which conform with federal requirements These measures vary according to the characteristics of oC the community community com com- and the nature of specific flood threats But they are generally designed to regulate the future development development development develop develop- ment of oC flood hazard areas and ultimately require minimum elevation and construction standards for Cor floors and foundations of oC any new construction construction construction con con- in these areas |