Title
Consider and take action on a resolution approving the City of League City’s Repetitive Loss Area Analysis (Director of Engineering)
Background:
The National Flood Insurance Program (NFIP) provides federally backed flood insurance within communities that enact and enforce floodplain regulations. The NFIP has been effective in requiring new buildings to be protected from damage by a 1% chance flood, but flood damage still results from floods that exceed the base flood and from flooding that affects buildings constructed before a community joined the NFIP.
The City’s membership in the NFIP allows us to participate in the Community Rating System (CRS). Under this program, communities can be rewarded for doing more than simply regulating construction of new buildings to the minimum national standards. Participation in the CRS allows flood insurance premiums for residents and business to be discounted to reflect the community's work to reduce flood damage to existing buildings, protect new buildings beyond the NFIP minimum, preserve and/or restore natural functions of floodplains, help insurance agents obtain flood data, and help people obtain flood insurance.
A community receives a CRS classification based on the total credit for its activities. There are 10 CRS classes. Class 1 requires the most credit points and gives the greatest premium reduction or discount, with Class 10 having the least credit points and no premium reduction. The City is currently rated a Class 6. This classification means that flood insurance policies within the Special Flood Hazard Area (SFHA) receive a 20% reduction in premiums and policies outside the SFHA receive a 10% reduction in premiums. Staff is currently working to obtain a Class 5 rating which will allow policies within the SFHA to have a 25% reduction in premiums.
As part of Staff’s efforts to obtain a CRS Class 5 rating, the City’s 1,183 repetitive loss properties were reviewed and broken out into 58 repetitive loss...
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