Publication Date:
2016-12-23
Description:
The Federal Emergency Management Agency requires that buildings located in floodplains which undergo ‘substantial improvement’ must comply with current floodplain management standards. However, the wording of the ‘substantial improvement’ clause in the National Flood Insurance Program (44 C.F.R § 59.1) is highly ambiguous, leading to a loophole that can be easily exploited by property owners. We thus suggest a new interpretation of the law which we believe to be in the law’s intended spirit. We mathematize our new interpretation of the law and formally prove that it does not have a substantial impact on poorer property owners who are unable to make the needed improvements at one time.
Print ISSN:
1470-8396
Electronic ISSN:
1470-840X
Topics:
Mathematics
,
Law
Permalink