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Market value means the building value, excluding the land (as agreed to between a willing buyer and
<br /> seller), as established by what the local real estate market will bear. Market value can be established by
<br /> independent certified appraisal, replacement cost depreciated by age of building (actual cash value), or
<br /> adjusted assessed values.
<br /> Mitigation means sustained actions taken to reduce or eliminate long-term risk to people and property
<br /> from hazards and their effects. The purpose of mitigation is two (2) fold: to protect people and structures,
<br /> and to minimize the cost of disaster response and recovery.
<br /> National Flood Insurance Program (NFIP) is the federal program that makes flood insurance available to
<br /> owners of property in participating communities nationwide through the cooperative efforts of the Federal
<br /> Government and the private insurance industry.
<br /> National Geodetic Vertical Datum (NGVD) of 1929 as corrected in 1929 is a vertical control used as a
<br /> reference for establishing varying elevations within the floodplain.
<br /> New construction means any structure for which the "start of construction" commenced after the effective
<br /> date of the community's first floodplain ordinance.
<br /> New manufactured home park or subdivision means a manufactured home park or subdivision for
<br /> which the construction of facilities for servicing the lots on which the manufactured homes are to be affixed
<br /> (including at a minimum, the installation of utilities, the construction of streets, and either final site grading
<br /> or the pouring of concrete pads) is completed on or after the effective date of the community's first
<br /> floodplain ordinance.
<br /> North American Vertical Datum of 1988 (NAVD 88) as adopted in 1993 is a vertical control datum used
<br /> as a reference for establishing varying elevations within the floodplain.
<br /> • Obstruction includes, but is not limited to, any dam, wall, wharf, embankment, levee, dike, pile, abutment,
<br /> protection, excavation, canalization, bridge, conduit, culvert, building, wire, fence, rock, gravel, refuse, fill,
<br /> structure, vegetation, or other material in, along, across or projecting into any watercourse which may alter,
<br /> impede, retard or change the direction and/or velocity of the flow of water; or due to its location, its
<br /> propensity to snare or collect debris carried by the flow of water, or its likelihood of being carried
<br /> downstream.
<br /> One-hundred year flood (100-year flood) is the flood that has a one percent (1%) chance of being
<br /> equaled or exceeded in any given year. Any flood zone that begins with the letter A is subject to the one
<br /> percent(1%)annual chance flood. See"Regulatory Flood".
<br /> One-percent annual chance flood is the flood that has a one percent (1%) chance of being equaled or
<br /> exceeded in any given year. Any flood zone that begins with the letter A is subject to the one percent(1%)
<br /> annual chance flood. See "Regulatory Flood".
<br /> Participating community is any community that voluntarily elects to participate in the NFIP by adopting
<br /> and enforcing floodplain management regulations that are consistent with the standards of the NFIP.
<br /> Physical Map Revision (PMR) is an official republication of a community's FEMA map to effect changes to
<br /> base (one percent [1%] annual chance) flood elevations, floodplain boundary delineations, regulatory
<br /> floodways, and planimetric features. These changes typically occur as a result of structural works or
<br /> improvements, annexations resulting in additional flood hazard areas, or correction to base flood elevations
<br /> or SFHAs.
<br /> Post-FIRM construction means construction or substantial improvement. that started on or after the
<br /> effective date of the initial FIRM of the community or after December 31, 1974,whichever is later.
<br /> Pre-FIRM construction means construction or substantial improvement, which started on or before
<br /> December 31, 1974, or before the effective date of the initial FIRM of the community, whichever is later.
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