Many property owners in North Platte, south of Interstate 80, no longer need flood insurance.
The city’s flood plain maps were updated Wednesday, removing that designation from more than 40 acres.
Jim Hawks, North Platte city administrator, says there is a reduced threat of flooding for those properties still in the flood plain.
“If all of a sudden you don’t have to pay flood insurance when you obtain a mortgage, it’s a considerable savings,” Hawks tells Nebraska Radio Network. “If you currently own a property, I think it makes it a lot more saleable out there.”
Hawks says the city has been trying to refine the flood plain maps since many were produced 30 years ago.
He thinks this will spur development in an area of North Platte that is already growing.
“For those areas that remain in the flood plain, it substantially reduces the base flood elevation, which makes the property much more developable in that area and that seems to be the area that North Platte is growing in,” Hawks says. “We’re excited for our people.”
New technology helped the city update its flood plain maps with better data.
“We originally thought we were going to have do to some physical improvements in the area,” Hawks says, “but as a result of our better information, we weren’t in the position to have to do any physical improvements.”