FEMA Flood Map Revised (Effective January 24th, 2020)

Update: January 24th, 2020

The Town of Speedway has received final approval of the Letter of Map Revision (LOMR) for Dry Run and Dry Run Diversion. The map revision became effective today, January 24th, 2020. Based on the revision, your address may have been removed from the 1-percent annual chance floodplain. If you have been impacted by the Dry Run Diversion project, please contact your bank or insurance agent to request that they review the new floodplain maps to determine what will be required to change the status of your home.

For questions about FEMA floodplains, call 1-877-336-2627 M-F, 8am-7pm (ET).

FEMA Set to Revise Flood Insurance Maps Impacting Speedway Residents

The Town of Speedway has received preliminary approval from FEMA to revise its Flood Insurance Map so that residents in the area of the Dry Run Diversion are no longer in a flood zone. It is anticipated that the maps will be officially approved on January 24th, 2020. The town held a public forum on October 24th from 5:30 to 6:30 PM at the Speedway Town Hall to provide the opportunity for residents to see the revised maps, speak with the project engineers, and have their questions answered.

A link to the new map has been provided by Burke Engineering and can be found here

This approval is the final step toward removing over 250 homes and businesses from the floodplain whose owners are required to purchase costly flood insurance. After the 90-day comment period required by FEMA, homeowners located in the bounds of the Dry Run Diversion Drainage Project will be able to renegotiate their homeowner insurance with the newly updated flood zone maps.

This project began with a State of Indiana grant aimed at reducing flooding in the area in late 2015. The Town of Speedway undertook the project to reduce the risk of flooding during major rainstorms and to help residents save money on high flood insurance premiums. The project was also supported by Indianapolis Motor Speedway, who donated land to the town to help improve the area. This investment in Speedway will save residents significant amounts of money on homeowner’s insurance premiums.

Though rates will decrease, and flood insurance will no longer be required, The Town of Speedway encourages residents to continue to carry flood insurance. 

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