STONE HARBOR – Just a few months ago, Stone Harbor began a major effort to regain its level 5 Community Rating System (CRS) status, which entitles property owners to a 25% discount on National Flood Insurance Program (NFIP) premiums.
The borough’s status dropped to a level 7 community when points gained following Superstorm Sandy in 2012 expired. The points were awarded with an understanding that they would be available only for a 10-year span.
One major effort undertaken by the borough in order to regain CRS points was the adoption of a new flood prevention ordinance. Other efforts have followed.
A Federal Emergency Management Agency (FEMA) subcontractor visited the borough, July 19, to review the new material in advance of a formal decision on points the borough may have successfully regained.
Stone Harbor CRS Coordinator Ray Poudrier told the council, Aug. 1, that the subcontractor was “cautiously optimist” that the borough would have sufficient points to regain its level 5 status.
Poudrier said there was no doubt that the borough would, at a minimum, move up to a level 6. The deadline for all material that will be considered in any reevaluation of status is Aug. 29.
“We still have work to do,” Poudrier said, noting that the visit resulted in a request for more documentation. Poudrier also said that even if the borough regained its previous level 5 status, the benefit would not be available to property owners until October 2024.
At a level 5, property owners receive a 25% discount on flood insurance premiums. At level 6, the discount is 20%. Under the current level 7 status, the discount is 15%.
Contact the author, Vince Conti, at vconti@cmcherald.com.
