HUD Publishes Final Rule to Manage Flood Risk for its Housing Programs
Today, the Department of Housing and Urban Development’s (HUD) Office of Environment and Energy (OEE) published the final rule, Floodplain Management and Protection of Wetlands; Minimum Property Standards for Flood Hazard Exposure; Building to the Federal Flood Risk Management Standard, [Docket No. FR-6272-F-02] in the Federal Register.
This final rule revises HUD’s regulations governing floodplain management and the protection of wetlands to implement the Federal Flood Risk Management Standard (FFRMS) in accordance with the Executive Order 13690 titled “Establishing a Federal Flood Risk Management Standard and a Process for Further Soliciting and Considering Stakeholder Input”, dated January 30, 2015.
Compliance with this final rule’s amendments to 24 CFR part 55 is required no later than January 1, 2025, for the following programs:
(1) Programs subject to chapter 9 of the Federal Housing Administration’s (FHA) Multifamily Accelerated Processing (MAP) Guide (4430.G):
- Multifamily FHA,
- Section 202 and 811 capital advance grants,
- Transfers under Section 8bb and Section 209 of HUD’s annual appropriations (or subsequent provisions),
- Section 8 Renewals with Capital Repairs,
- RAD conversions to PBRA, and the
- Green and Resilient Retrofit Program; and
(2) The other mortgage insurance programs subject to part 55:
- FHA Healthcare, and
- FHA Risk Share.
This final rule incorporates public comments received on the proposed rule [Docket No. FR-6272-P-01] published on March 24, 2023.
HUD will host two webinars on the final rule in the coming weeks. We will send an announcement and registration instructions when the webinar dates and times are finalized.
See the press release here.
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