U.S. Rep. Keating’s flood insurance bill would encourage mitigation, savings
Keating, D-
The Community Rating System is a voluntary incentive program that encourages communities that participate in the National Flood Insurance Program to pursue flood mitigation. Policyholders receive discounts on their flood insurance premiums when their communities go above and beyond in their efforts to reduce flood damage.
In doing this, communities must take a comprehensive approach to floodplain management. But Keating said small communities often can't afford the time or expense of coordinating Community Rating System program compliance
Many communities that participate in the Community Rating System designate their building commissioner as the coordinator. In
The bill would allow the
"This legislation will encourage these communities to form area-wide partnerships, apply for resources to support regional-level coordinators who will manage the CRS program for each of the towns in these partnerships, and ultimately, work together on cost-saving mitigation projects to qualify their residents for discounted rates on their flood insurance premiums," he said in a statement. "These savings can be difference makers for families trying to afford their first home and for new businesses hoping to open their doors to their neighbors."
Keating said
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