; and (2) provide a flexible framework for full consideration of sensible resilience alternatives without requiring any specific construction or mitigation methods. 3. Flood risk management (a) Evaluation of potential for flooding When carrying out an agency action involving a federally funded project, the head of each agency shall evaluate the potential for flooding throughout the planned lifetime or duration of the federally funded project to— (1) reduce the risk of financial and property losses, including taxpayer losses resulting from floods; (2) take practicable steps toward ensuring that Federal resources will be allocated to structures and projects that will remain flood resistant throughout their intended design life; (3) preserve and utilize, to the extent reasonable, the capacity of natural systems to protect against the damages of flooding; (4) prevent, to the extent possible, the disruption of critical services during flood events, including the closure of strategic transportation routes, inaccessibility of health care facilities, or loss of power or essential water and wastewater services; and (5) minimize the impact of current and future floods on human safety, health, and welfare. (b) Determination regarding siting in floodplain In carrying out the review of agency actions required under Executive Order 11988 (42 Fed. Reg. 26951; relating to floodplain management), the head of each agency shall determine whether the federally funded project (as such term is defined in subsection (e)) under review is sited in a floodplain currently or is expected to lie within or take place in a floodplain during the expected duration or design life of the project, taking into consideration— (1) the most recent flood insurance rate map published by the Administrator of the Federal Emergency Management Agency for the community in which the project shall take place, including preliminary and advisory maps prepared by the Administrator