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Agenda Item Details
Meeting Sep 19, 2017 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00 p.m.
Category 3. MAYOR'S REPORT
Subject 3.2 PRESENTATION OF NATIONAL FLOOD INSURANCE PROGRAM COMMUNITY RATING SYSTEM
CLASS 6 DESIGNATION.
Type Information
Information
The National Flood Insurance Program's (NFIP) Community Rating System (CRS) is a voluntary incentive program that
recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements.
As a result, flood insurance premium rates are discounted to reflect the reduced flood risk resulting from the community
actions meeting the three goals of the CRS:
1. Reduce flood losses;
2. Facilitate accurate insurance rating; and
3. Promote the awareness of flood insurance.
The Village of Mount Prospect has participated in the CRS Program since the first year of the program, 1990. Each year
in connection with the Community Rating System (CRS) Program, the Village must recertify and document our
floodplain management activities. In addition every 5 years a representative from the National Flood Insurance
Program comes out on a reverification visit to inspect the Village's flood management program and documentation and
to view any recent construction within the floodplain areas of the Village. This year's reverification visit brings with it
very good news for the property owners of Mount Prospect.
FEMA's CRS Program review determined that the Village has improved its rating and has earned a Class 6 CRS
Community designation. For reference, a community receives a Class 10 rating if they simply meet the minimum
requirements of the National Flood Insurance Program. As a community's floodplain management program improves, a
lower class designation is achieved. With the Class 6 designation comes significant benefits for the property owners of
Mount Prospect. Besides improved flood protection throughout the Village, our residents also benefit by receiving
reduced flood insurance rates. Residents that live in the floodplain areas receive a 20% discount on their flood
insurance premiums and those not in the floodplain receive a 5% discount. All insurance providers have been notified
by FEMA concerning this discount. Property owners should automatically receive the discount through their insurance
providers. For perspective, Mount Prospect's Class 6 designation is in the top 3.5% of all Illinois communities and it
reflects the efforts the Village has made in the areas of floodplain management, enforcement, compliance, outreach and
education efforts.
Alternatives
1. No Village Board action required.
2. Action at discretion of Village Board.
Staff Recommendation
No Village Board action is required. Presentation is for informational purposes only.
http://www.boarddocs.com/il/vomp/Board.nsf/Public 1/1