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All decisions to grant a variance pursuant to this chapter shall contain notification to the applicant that:

(1) The issuance of a variance to construct a structure below base flood level will result in increased premium rates for flood insurance which may be as high as $25.00 per $100.00 of insurance coverage or more; and

(2) Such construction below base flood level increases risks to life and property. (Added by Amended Ord. 02-064, Dec. 9, 2002, Eff date Feb. 1, 2003).