Which of the following is not an eligibility requirement for the RCBAP flood policy?

The correct choice indicates a criterion that is not applicable for the Residential Condominium Building Association Policy (RCBAP). Specifically, option B states "25% mercantile floor area," which does not align with the eligibility criteria for RCBAP.

Under the National Flood Insurance Program (NFIP), RCBAP is designed specifically for residential condominiums, and its primary focus is on providing coverage for buildings with a significant proportion of residential units. The eligibility requirements emphasize that the majority of the building must be residential in nature. Typically, at least 75% of the total area has to be residential for the policy to be valid. This is to ensure that the policy serves its intent of protecting condominiums primarily occupied for residential purposes.

The other options reflect valid eligibility criteria for the RCBAP flood policy. Properties must contain one or more residential units, must be located in a community participating in the NFIP (regular program community), and a significant proportion of the building's total area must be allocated for residential use. Therefore, these requirements reinforce the purpose of RCBAP to cater to residential units, which makes option B an incorrect requirement in this context.