City Efforts Result in 20% Discount for Residents' Flood Insurance ...

The City has recently received some good news from the National Flood Insurance Program (NFIP) about increased savings on flood insurance premiums for citizens of Corvallis. Due to the efforts of City staff, owners of properties within flood hazard areas will receive an additional 5% discount on their premiums, for a total savings of 20%.

The National Flood Insurance Program (NFIP) was created to provide a way for property owners to financially protect themselves. The NFIP provides federally backed flood insurance to communities that enact and enforce floodplain regulations. Participation in this program is voluntary, with agencies being rated from Class 1 to 10 depending on the number of floodplain management activities that are undertaken. The more activities, the lower the classification, and the greater the discounts on flood insurance premiums.

A community?s flood program and associated rating is reviewed by FEMA in-depth every five years, so it is very important that staff actively participate in that process, identifying all activities undertaken by the City to minimize the impact of local flooding on private properties. During the most recent Corvallis review, City staff was able to identify additional activities that improved our rating from a Class 7 to a Class 6 community. These include requirements on development projects for flood plain mapping in areas that have not been mapped by FEMA as well as preserving land in flood hazard areas. The City?s maintenance program for our community?s storm water system also earned additional points. Corvallis is now one of eight cities or counties in Oregon with a rating of 6 or better.

City staff will continue to pursue credit for our local actions to help make flood insurance premiums more affordable for our community. To learn more about this flood management program contact Corvallis Public Works at 541-766-6941.

Contact: Jeff McConnell, P.E., Engineering Supervisor
City of Corvallis, Public Works Department
Phone: 541-766-6729, ext. 5083, Fax: 541-766-6464

Source: http://www.ci.corvallis.or.us/index.php?option=com_content&task=view&id=5057&Itemid=2

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