VIRGINIA BEACH — The city is attempting to join FEMA’s Community Rating System, which could enable residents to receive discounts on flood insurance premiums, according to a memo released by City Manager Dave Hansen.
The CRS is a voluntary incentive program that recognizes and encourages community floodplain management activities that exceed the minimum National Flood Insurance Program requirements, according to the FEMA website.
The process of joining the CRS reached a milestone in August when FEMA provided the city with a “good standing” letter, indicating compliance with the NFIP.
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The city will need to start administering additional building permits and inspections for structures in high-risk coastal flood zones, FEMA will need to visit and further review certain city policies, and then a federal register will need to publicly advertise Virginia Beach’s intent to join the CRS before the process is complete.
After a public comment period, city officials anticipate that Virginia Beach will then become a Class 8 community, with residents receiving a 10 percent discount on eligible flood insurance premiums as a result.
According to the memo, it is possible that flood insurance premium discounts to residents could begin in October 2019.
