Solutions Value: ≈$11K Year-Over-Year Savings
NFE Solution: LOMA
A mixed-use commercial property along the Schuylkill River in Philadelphia, PA, had 14 buildings impacted by the high-hazard flood zone and was concerned about the increasing cost of flood insurance premiums.
NFE conducted a complimentary engineering review and qualified 6 out of the 14 buildings for flood zone removal. In less than 45 days, we were able to obtain a Letter of Map Amendment (LOMA), ultimately saving the client a whooping $11K in flood insurance premiums year over year, adding $350K in property value.
The client was thrilled with the results of our flood experts’ work and has since recommended our services to other commercial property owners in the Philadelphia area.