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Higher Rating to Cut Cape May Flood Insurance Bills

 

By Kirby Reed

CAPE MAY – The National Flood Insurance Program’s (NFIP) Community Rating System raised the city’s classification, resulting in a 20 percent savings on flood insurance premiums. According to the Federal Emergency Management Agency (FEMA), the program “recognizes and encourages community floodplain management activities that exceed the minimum NFIP requirements.”
The previous discount received by homeowners in the city was 10 percent, a reflection of its Class 8 standing. During the Aug. 6 work session, Mayor Edward Mahaney said the city is close to reaching Class 5 status, which would bring the savings up to 25 percent.
Mahaney also commented on the revised timetable for the release of the Preliminary Work Maps, which were to be released the last week of July.
“I was notified yesterday (Aug. 5) that they (FEMA) expect to have those maps out at the end of next week,” said Mahaney. “Then the county and municipal elected officials would be called to a webinar next week and the maps would be explained for all municipalities in Cape May County and we would then receive our maps.”
The maps would then be released to the public around Aug. 19. Mahaney assured homeowners that they would be notified by reverse-9-1-1 calls about how to obtain the Preliminary Work Maps online. The Floodplain Management office would also be available by phone and in person to assist individuals with determining their home’s placement on the maps.
“When these maps come out, the city will have until Nov. 29 to work with FEMA to correct any additional areas that we think were improperly assigned in zones,” said Mahaney. Following any appeals, the final maps for rating purposes would be released in August 2015.
“It’s my understanding from the preliminary discussion that the flood maps, the Preliminary Work Maps, are more conducive to our residents than the original Advisory Base Flood Elevation maps that came out at the beginning of this year,” said Mahaney. “They have reduced some of the V (velocity) zones in size and number, and they also lowered some of the elevations.”
The city plans to host another town hall meeting once council is further along in the process, possibly in early 2014.

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