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Coastal Barrier Resources Act of 1982

4/18/2012

1 Comment

 
Are you planning to purchase a home using a VA or FHA loan in the Destin or Miramar Beach area?  If so you need to know that not all properties in the area will be elgible for these types of loans, according to the Coastal Barrier Resources Act of 1982.

The Coastal Barrier Resources Act (CBRA) of 1982 along with amendments established the John H. Chafee Coastal Barrier Resources System (CBRS) and removed the Federal government from financial involvement associated with building and development in undeveloped portions of designated coastal barriers. These areas were mapped and designated as Coastal Barrier Resources System units or Otherwise Protected Areas (OPA). They are commonly referred to as COBRA zones.  The CBRA banned the sale of NFIP flood insurance for structures built or substantially improved on or after the specified date of  the zone. For the initial CBRA designation, this date is October 1, 1983. For  all subsequent designations, this date is the date the CBRA zone was identified.  CBRA zones and their identification dates are shown on Flood Insurance Rate Maps  (FIRMs). Walton County has four areas that are designated as CBRS areas and one  area that is an OPA.

Communities may permit development in these areas even though no Federal assistance, such as flood insurance, provided that the development meets NFIP requirements.  Verify whether your property is located within a CBRA prior to obtaining a Building Permit. If you own property near one of the designated areas, check with the Floodplain Manager or a Planner to verify whether you property is  affected. Removing your property from a CBRA requires approval by Congress.

To map the location of the properties that will not qualify for FHA and VA loans in the area, click on this link and scroll down to click on the P32 maps.  If you need more information please feel free to call me for more information.
http://www.co.walton.fl.us/index.aspx?NID=721

Bev Dudley, Realtor
Fleur de Lis Reatly
http://www.luxurygulfproperties.com/
1 Comment
Arnold Greg link
9/7/2021 10:40:10 am

Great bllog post

Reply



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