Title
Resolution for a National Flood Insurance Program
Action
Action:
Adopt a resolution to submit a Watershed Management Plan to the National Flood Insurance Program.
Body
Staff Resource(s):
Daryl Hammock, Engineering & Property Management
Explanation
* The National Flood Insurance Program's (NFIP) Community Rating System (CRS) is a voluntary incentive program that encourages floodplain management activities that exceed the minimum federal requirements. The NFIP is administered locally by Mecklenburg County on the City's behalf.
* Flood insurance premium rates for Charlotte residents are discounted in CRS-participating communities to reflect the reduced flood risk resulting from the community actions.
* The CRS consists of 19 creditable activities, many of which currently represent the policies of the Charlotte City Council and City administrative practices.
* The CRS program assesses the creditable activities when participating communities submit the necessary information, known as a Watershed Management Plan.
* In order for the plan to be fully accredited, staff has assembled Charlotte's watershed and flood related ordinances, budgets, policies, and administrative practices for submittal to the CRS evaluators. This complete collection of City endeavors is known as Charlotte's Watershed Management Plan.
* The action will certify that these endeavors are those of the City, and will endorse staff's submittal of Charlotte's Watershed Management Plan to the NFIP.
* Once credited, the city of Charlotte may be eligible to move from a "class five" community to a "class three or four" community and reduce flood insurance rates by 5-10%.
* The enhancement could benefit up to 3,700 property owners who have flood insurance and would help the owners save an additional $90,000-$180,000 in annual premiums.
* The action does not commit the city of Charlotte to additional activities, cause additional expenditures, or hinder future changes to pol...
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