FARGO (KFGO-AM) - Good news for some Fargo homeowners.
Mayor Tim Mahoney says FEMA has approved a Fargo basement exemption. He says the news comes after a "big fight" the City has had with FEMA over the issue.
Fargo has had the exemption since 1975. That's allowed homeowers in the floodplain who have flood-proofed basements to keep their flood insurance premiums low. City leaders say if the exemption went away, premiums could have shot up to $10,000 to $12,000 per homeowner.
Mahoney credits the North Dakota Congressional delegation with helping Fargo keep the exemption.
FEMA had looked at dropping the exemption following the 2012 overhaul of the National Flood Insurance Program.