FEMA (Federal Emergency Management Administration) revises the flood maps from time to time and establishes the BFE (Base Flood Elevation) that directly establishes the premiums for flood insurance. The BFE for a particular property will determine whether a mortgage lender will require that the property must carry flood insurance coverage for any improvements on the premises. Following Hurricane IKE, the flood hazard maps (known as Flood Insurance Rate Maps, or FIRMs) for the Gulf Coast of Texas and other states underwent major revisions that continue to be reevaluated from time to time. These updated flood hazard maps (known as Flood Insurance Rate Maps, or FIRMs) and studies will allow communities and property owners to make more informed decisions about reducing their coastal flood risk. To help communities and individuals to understand their coastal flood risk even more, a new informational layerthe Limit of Moderate Wave Action (LiMWA) are now be depicted on the FIRMs.
The effect of being in one zone verses another on the FIRMs can have a profound impact. It is not just a matter of how high above the BFE the living area of a house may be but if you are in a VE zone your property can not have reinforced concrete underneath it nor can there be enclosed space greater than 299 square feet (approximately enough for a one car garage.) Your home may even carry a deed restriction recorded in the county deed records that precludes modifications in violation of such deed restriction. Although this change is still being considered in the Galveston County / Galveston Bay area, it has not yet been adopted.