Yes. If a property owner has an existing building and wants to make it more hazard resistant and reduce flood insurance premiums, the building can be "retrofitted." While it is preferable to design and build in a hazard-resistant method originally, there are steps an owner of an existing building can take, particularly with respect to wind and wind-driven rain resistance. Improving the flood resistance of an existing building often involves elevating the building on a new foundation. FEMA provides hazard mitigation grants to states for activities such as structure elevation, property acquisition, and flood-proofing. When completed, these activities can reduce or eliminate risk, which may result in lower flood insurance rates.