What does LOMA stand for in flood zone determination?

LOMA stands for Letter of Map Amendment. This document is issued by the Federal Emergency Management Agency (FEMA) and allows property owners to request a change to the current flood zone designation for their property as shown on the Flood Insurance Rate Map (FIRM). When a LOMA is granted, it can effectively remove a property from the high-risk flood zone designation, thereby providing the property owner with relief from mandatory flood insurance requirements. The process typically involves providing evidence that the property is above the base flood elevation, and a LOMA serves as a formal acknowledgment by FEMA of this change. This clarity helps property owners understand their flood risk better and can impact insurance rates and property value.