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#2264138 - 12/30/21 04:56 PM "Out-buildings" on golf course
DoubleNickel Offline
Junior Member
Joined: Jan 2013
Posts: 25
Our bank is looking to refi & rehab an SBA 504 golf course loan which includes two (2) "out-buildings" in a flood zone. The current lender and SBA have not required them to have flood insurance on these structures. Would these buildings be considered 'not insurable' under flood definitions?

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Flood Compliance
#2264146 - 12/30/21 05:41 PM Re: "Out-buildings" on golf course DoubleNickel
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 78,958
Galveston, TX
Not if they are "buildings".

Building
• A structure with two or more outside rigid walls and a fully secured roof that is affixed to a permanent site; or
• A manufactured home (a “manufactured home,” also known as a mobile home, is a structure: built on a permanent chassis, transported to its site in one or more sections, and affixed to a permanent foundation); or
• A travel trailer without wheels, built on a chassis and affixed to a permanent foundation, that is regulated under the community’s floodplain management and building ordinances or laws.

“Building” does not mean a gas or liquid storage tank or a recreational vehicle, park trailer, or other similar vehicle, except as described above.
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#2264149 - 12/30/21 05:56 PM Re: "Out-buildings" on golf course DoubleNickel
DoubleNickel Offline
Junior Member
Joined: Jan 2013
Posts: 25
Thank you Randy. I can't imagine SBA or another lender not requiring flood insurance but that is what our lender is saying.

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