In post-Hurricane Sandy New York, it looks like Zone A is expanding, and stretching beyond waterfront properties to encompass buildings farther inland. The Federal Emergency Management Agency (FEMA) released preliminary new maps on Monday revealing that an additional 35,000 homes and buildings are now listed in flood zones. Business and homeowners included in these new zones will likely see their insurance rates rise.
More maps will be published in late February, and the official ones will be available this summer. The New York Times reported that while the maps will not “formally go into effect for two years,” Mayor Bloomberg is getting ready to deliver an executive order that would help rebuild damaged homes that weren’t located in the original flood zones but now included in the new FEMA maps.
In related Hurricane Sandy news, Congress just passed a $51 billion emergency aid package to help victims in New York, New Jersey, and other states rebuild their homes and businesses.