IN CASE YOU MISSED IT...during tonight's Regular Council Meeting, the Village Council will be considering a very important item for Palmetto Bay residents.
As a waterfront community, Palmetto Bay is no stranger to the effects of flooding during a heavy rain event, storm or hurricane. For many years now, the Village has been upgrading its drainage system based on priority projects identified in its adopted Stormwater Master Plan. The new drainage helps to move out the water quickly to minimize flooding.
But Palmetto Bay is doing much more than that! We are also taking important and significant steps to lower our Community Rating System or CRS. The CRS is based on a point system assigned by FEMA's National Flood Insurance Program, and it's dependent on the policies, actions and efforts effectuated by a municipal government to mitigate the effects of flooding in their communities.
Palmetto Bay's current rating is 8 and the Village is working hard to bring that number down. The rating point value translates into a direct and valuable percentage DISCOUNT on EVERY homeowner's flood insurance premium.
Tonight's agenda item proposes the creation of a Program for Public Information that will not only provide details about the CRS program to our residents, but it will also make the Village eligible for 350 points and a possible reduction in the CRS rating from 8 to 7. What does this mean to you? Well, a classification of 7 equals a 15% discount on your flood insurance premium.