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The original item was published from 9/14/2022 6:03:00 PM to 10/31/2022 12:00:01 AM.

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Posted on: September 14, 2022

[ARCHIVED] Saving You Money!

CRS-Drop-Flood-Insurance

As we work to protect our residents and our community, one of our ongoing goals here in the Village has been to reduce our Community Rating System (CRS) in the National Flood Insurance Program (NFIP) managed by the Federal Emergency Management Agency (FEMA).  Communities that participate in the CRS program are given a classification by FEMA, which is the basis for discount reductions on the resident’s flood insurance premiums.  The lower the classification, the higher the discount percentage.

 

Your Village has been working diligently to implement projects and policies that mitigate flooding and have a positive impact on our CRS rating.  We’re happy to announce that Palmetto Bay’s CRS classification is dropping from a Class 8 to a Class 7, which qualifies residents for a 15% discount on flood insurance premiums (up from 10%) for most NFIP policies issued or renewed on or after April 1, 2023. 

 

In a letter to Village Manager Nick Marano, FEMA CRS Coordinator William H. Lesser wrote “This savings is a tangible result of the flood mitigation activities your community implements to protect lives and reduce property damage.” He added, “I commend you on your community actions and your determination to lead your community to be more disaster resistant.”

 

Mayor Karyn Cunningham also praised the Village’s achievement, saying “Moving forward with floodplain management and CRS reduction creates a legacy that will impact our Village in a positive way for years to come. Safeguarding Palmetto Bay’s residents will always be our top priority, and this is one important way to do that.”


#PalmettoBayProud   #PBAlwaysWorkingForYou

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