REPORT TO COUNCIL
SUBJECT
Title
Action on the Annual Report for FY 2024 for the Santa Clara County Multi-Jurisdictional Program for Public Information related to the Federal Emergency Management Agency's National Flood Insurance Program's Community Rating System
Report
COUNCIL PILLAR
Deliver and Enhance High Quality Efficient Services and Infrastructure
BACKGROUND
The City has participated in the Federal Emergency Management Agency's (FEMA) National Flood Insurance Program's (NFIP) Community Rating System (CRS) program since 2002. CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements. This commitment enhances public safety, property protection, and protects the natural functions of floodplains, and flood insurance premiums.
Flood insurance premium rates for residents and businesses are discounted to reflect the reduced flood risk resulting from the community activities meeting the three goals of the CRS:
1. Reduce flood damage to insurable property
2. Strengthen and support the insurance aspects of the NFIP
3. Encourage a comprehensive approach to floodplain management
The City is currently CRS Class 7, which means that residents and businesses in the City's Special Flood Hazard Area (SFHA) are eligible for up to a 15 percent insurance premium discount. The average annual flood policy premium for City residents and businesses within the SFHA is approximately $900, with the total insurance premiums being an estimated $642,000. Due to participation in the CRS program, the latest estimated total flood insurance premium savings is approximately $95,000 a year for Santa Clara residents and businesses.
The City works closely with the Santa Clara Valley Water District (Valley Water), whose participation in CRS dates back to 1998. Valley Water's participation in the CRS program allows them to document qualifying flood risk reduction activities they perform throughout...
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