Communities (1 - 3 of 3 items) in Past Year
Community Development Block Grants: Sources of Data on Community Income Are Limited
GAO-16-734: Published: Sep 6, 2016. Publicly Released: Sep 6, 2016.
The Department of Housing and Urban Development's (HUD) and states' primary method for communities to demonstrate eligibility when they disagree with HUD's eligibility determination is to allow communities to conduct their own local income surveys to show that they meet the Community Development Block Grant (CDBG) income threshold. HUD instructs small communities, known as nonentitlement communiti...
Flood Insurance: Review of FEMA Study and Report on Community-Based Options
GAO-16-766: Published: Aug 24, 2016. Publicly Released: Aug 24, 2016.
The Federal Emergency Management Agency (FEMA) used reasonable objectives and methodology for its study on community-based flood insurance (CBFI)—flood insurance that a community would purchase to cover all properties located within it. FEMA contracted with the National Academy of Sciences (NAS) to conduct the study, and worked with NAS to design a study that would provide a high-level, independ...
National Flood Insurance Program: Continued Progress Needed to Fully Address Prior GAO Recommendations on Rate-Setting Methods
GAO-16-59: Published: Mar 17, 2016. Publicly Released: Apr 18, 2016.
The Federal Emergency Management Agency (FEMA) sets National Flood Insurance Program (NFIP) full-risk rates using a model that includes some characteristics of catastrophe models used by private insurers. In particular, both models assess flood probability and damage to estimate potential flood losses. Like private insurers, NFIP also uses variables specific to each structure in estimating the deg...