The
Village of Key Biscayne submitted a Floodplain Management Plan (FMA) update (available online as a PDF document) to
the National Flood Insurance Program's (NFIP) Community Rating System (CRS)
program to meet the October 1, 2009, deadline.
The Village has participated in the CRS program
since 1998. Continued participation requires yearly submittal of a report that
describes activities the Village is pursuing in order to reduce flood losses in
the community.
The
CRS is a voluntary, incentive-based rating program that recognizes and
encourages community floodplain management activities that exceed the minimum
NFIP requirements. The Village currently holds a Class 7 rating that provides a
15% flood insurance premium discount to all flood insurance policy holders in
the community.
Communities
must meet three goals to qualify for the CRS rating program: reduce flood
losses, facilitate accurate insurance rating, and promote the awareness of
flood insurance. Compliance is achieved via implementation of 18 CRS-approved
activities organized under the four categories of public information, mapping
and regulations, flood damage reduction and flood preparedness.
Ratings
range from Class 1 (corresponding to a 45% premium discount) to Class 10 (not
participating in the CRS and receives no discount). A Class 9 rating
corresponds to a 5% discount. The highest rating obtained by a community
located on a barrier island in Florida is Class 5 (25% discount).
The Village recently received four 2009 Flood Insurance Rate Maps
(FIRM) from FEMA. Village staff combined the maps into a single
color-coded FIRM map (PDF) that clearly shows the minimum required elevations
for the first finished floor in newly constructed buildings in
different parts of the Village. Enforcement of these elevations by the Chief Buidling Official is a key component in reducing future flood losses.
Participating
communities have the opportunity to improve CRA ratings and increase flood
insurance premium savings every five years. A class rating improvement requires
that compliance efforts are expanded during this period, often at additional
cost. Programs are evaluated during Federal Emergency Management Agency (FEMA)
site visits.
The
next Village site visit by a FEMA certified floodplain manager will occur in
2011. The Village could improve to a Class 6 rating, resulting in an additional
5% premium savings for a total discount of 20%, or remain at a Class 7
rating.
