On September 29, 2021 FEMA officially updated the pre-calculated default values for acquistions and elevation projects in the Special Flood Hazard Area.
The values in the original BCA memo in 2013 have been adjusted for inflation. The 2013 pre-calculated values were $276,000 for acquisitons of structures in the Special Flood Hazard Area and $175,000 for elevation projects. The 2021 pre-calculated values are $323,000 and $205,000 respectively.
FEMA has determined that the acquisition or elevation of a structure located in the SFHA (1% annual chance floodplain), as delineated on the Flood Insurance Rate Map (FIRM) or based on best available data, with total project costs4 less than or equal to the amount of benefits listed above is considered cost-effective.
More information on the Benefit-Cost Analyses and the BCA Toolkit are available online.
Visit Vermont Emergency Management for more informaton on Hazard Mitigation Funding Programs.