Members of the
Flood insurance premiums are increasing up to 18 percent for newer properties and as much as 25 percent for older ones because the national flood insurance program is 28 billion in debt.
"This is an excellent idea and I enthusiastically support it,"
The resiliency program begins with a pre-paid postage survey mailed to homeowners in the flood plain regions. Residents will be asked if they want to serve on working groups to brainstorm solutions for flood insurance reforms. A public meeting will follow the survey.
Then, three working groups made up of flood-plain property owners will meet to analyze data from the survey and identify priorities. Working groups could include bankers, engineers and insurance agents, working with members of the borough staff and the residents.
Using information generated by the working groups, borough officials would designate a task force to address concerns.
SEDA-COG also offers a program to help residents obtain an elevation certificate at a reduced rate. A land surveyor has offered to do the work at a bulk rate of
Increasing flood insurance rates place residents, including those attempting to sell their homes, in a difficult financial situation. Through these recent efforts, experts from the
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