(A) The design flood shall be established by the chief in concert with the applicant's desired level of protection, but with the utmost interest in safeguarding life, health, and property. For class I levees, the minimum design flood will be the one-hundred-year flood or the critical flood. The design for the critical flood shall be for site-specific conditions and based on a quantitative and relative impact analysis of the protected area. In determining the critical flood, the levee shall be designed so that there will be no additional potential for loss of life, health or property from overtopping failure of the levee when compared to the potential for loss of life, health or property caused by the flood in the absence of a levee overtopping failure.
(B) The magnitude of the design flood shall be determined from actual streamflow and flood frequency records or from synthetic hydrologic criteria based on current publications prepared by the division, the national oceanic and atmospheric administration (NOAA), the United States army corps of engineers, the United States geological survey, or others specifically approved by the chief.