ITEM TITLE:
Consider acknowledging receipt of the National Flood Insurance Program Community Rating System Flood Insurance Assessment.
INITIATOR: Public Works Director, Larry Wolcott P.E.
STAFF INFORMATION SOURCE: Public Works Director, Larry Wolcott, P.E. and Deputy Public Works Director, Cynthia Williams
BACKGROUND: In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. The Community Rating System (CRS) is a voluntary incentive program that recognizes communities for implementing floodplain management practices that exceed the Federal minimum requirements of the NFIP to provide protection from flooding. In exchange for a community's proactive efforts to reduce flood risk, policyholders can receive reduced flood insurance premiums for buildings in the community. The City of Lawton became a member of the NFIP in 1984 and began participating in the CRS program in 1990. Citizens of the City of Lawton currently receive a 20% discounted rate on flood insurance through the FEMA Community Rating System based upon activity points. Changes in community participation credit were made to the CRS Coordinator’s Manual in 2017. A Flood Insurance Assessment was completed to comply with the new regulations. The Flood Insurance Assessment compares the number of insurance policies in place to the number of vulnerable structures within the Special Flood Hazard Area. The assessment also outlines outreach activities the City should perform to increase insurance coverage. Lawton must review and update the insurance assessment annually to continue receiving credit.
EXHIBIT: 2021 Flood Insurance Assessment
KEY ISSUES: City of Lawton Flood Insurance Assessment sets goals of providing education outreach through various messages and methods. The activities and effectiveness must be reviewed for continuing credit within the CRS Program.
FUNDING SOURCE: NA
STAFF RECOMMENDED COUNCIL ACTION: Acknowledge receipt of the National Flood Insurance Program Community Rating System Flood Insurance Assessment.