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ORDINANCE NO. 1761 <br />AN URGENCY ORDINANCE OF THE TOWN OF <br />LOS GATOS ESTABLISHING FLOOD DAMAGE <br />PREVENTION REGULATIONS <br />THE TOWN COUNCIL OF THE TOWN OF LOS GATOS DOES ORDAIN: <br />SECTION 1.0 <br />FINDINGS OF URGENCY <br />Pursuant to Government Code Section 36937(b), the Council hereby finds that <br />there is a current and immediate threat to the public health and safety and it is <br />necessary to enact an Urgency Ordinance that will provide for the immediate <br />preservation of the public health and safety due to the facts provided below: <br />(1) The Federal Emergency Management Agency has made substantial changes to <br />the National Flood Insurance Program; regulations which necessitate the <br />adoption of new flood hazard regulations that will supercede the regulations <br />established in Ordinance 1413. <br />(2) The Federal Emergency Management Agency has suspended the Town of Los <br />Gatos from the National Flood Insurance Program until such time as the Town <br />amends its floodplain management ordinance incorporating the revised Federal <br />standards for regulating development in Special Flood Hazard Areas. <br />(3) As a result, flood insurance may not be sold or renewed, mortgage loans <br />cannot be obtained from the Veterans Administration, mortgage loans cannot be <br />insured by the Federal Housing Administration, and federal financial assis- <br />tance cannot be provided for the permanent repair or reconstruction of <br />insurable buildings in Special Flood Hazard Areas if a presidentially de- <br />clared disaster occurs due to flooding. <br />(4) In order to regain eligibility in the National Flood Insurance Program, <br />the Town must submit a local legislative or executive measure reaffirming the <br />communities intent to comply with the National Flood Insurance Program <br />