Flood insurance customers in the city would see a 5 to 10 percent decrease in their annual bill once the application process is finished,
But it will be a few years before the reduction is actually reflected in premiums, McNamara said.
There are 22,552 flood insurance policies in
But policies for the most vulnerable parts of the city can range from
City staff explored several options for lowering premiums, McNamara said. A bigger discount would cost the city more, she said.
During presentations for the program, city manager
{span}"While I am still concerned about some of the restrictions in the program, ultimately the priorities for the City and the
The price to join the project for a 5 to 10 percent decrease is minimal. The work consists of primarily documenting practices that already exist, McNamara said.
To get a higher discount, the city would have to take on projects that could cost money.
The Community Rating System awards discounts up to 45 percent. The highest ones in
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