1995-10-26_AgendaPacket - Laserfiche WebLink

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e 16 TALK ring -Summer 1 5 1 1 it The Federal Emergency Management Agency (FEMA) continues to promote the CRS. The CRS allows a community to have its flood insurance premiums reduced community-wide for implementing flood reduction measures beyond minimum National Flood Insurance program (NFIP) requirements. New in 1994 is the "Short Form Application," similar in concept to the Internal Revenue Service's form 1040 EZ, that makes it easier for a community to apply to the CRS. Any community that is currently participating in the Regular Phase of the NFIP can apply for the CRS. Applications must be submitted to FEMA Region V office in Chicago, II, no later than December 15th of any given year. The CRS allows for flood insurance premium reductions in 9 increments: from. a 596 reduction (Class 9 community) to a 45~i6 reduction (Class 1 community). Most CRS communities qualify fora 5-10~i6 premium reduction. Until the advent of the Short Form application, all CRS applications had to be prepared on comprehensive worksheets, using more detailed formulas.. Consequently, many communities were reluctant to apply to the .CRS. The Short Form Application is a simpler way for a community to apply to the CRS. A limitation of the Short Form Application is that a community can only apply for a Class 9 ranking. First time applications may be made with the CRS Coordinator's Manual or the Short, Form: It is likely that most communities throughout Minnesota wlll see increases in the number of flood insurance policies as a result of the .1994 NFIP Reform Act. The CRS program will provide community officials a chance to reduce the cost of flood insurance. Many communities already conduct some activities which can be credited in the CRS program. Communities who are still uncertain about the program are encouraged to contact other communities in the program and discuss the pros and cons from a local officials perspective. Information on the number of flood insurance policies and the number of floodprone structures may also help communities decide if the program is worthwhile. This information may be obtained from the DNR Central Office at (612) 296-9226. For more information on the CRS. call Errol Garren at (515) 278-8186 or write him at ISO Commercial Risk Services Inc.. 1948 NW 88th Court, Clive. Iowa, 50325. 'Water Talk' is published by the Minnesota Department of Natural Resources, D1vlslon of Waters, at 500 Lafayette Rood, St. Paul, MN 55155-4032 Phone Number (612) 294800 - FdrtoKs): Robb Collett Graphic Arts: Jim Z-copu/a TypJng: Carole Mason Layout: Aldus Pagemaker Printing: Lino Lakes Correctional Fac11riy C-RCULAI]ON: 2,600 O I94S Srohr of ta, t or Piotuat DtvBlon of waters