COM 0176.025 2006-2008 - Laserfiche WebLink

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FEMA -Community Rating System Resource Center Page 1 of 1 Costs and Benefits Communities should prepare and implement those activities which best deal with their local problems, whether or not they are creditable under the CRS. Few, if any, of the CRS activities will produce premium reductions equal to or in excess of their implementation costs. In considering whether to undertake a new floodplain management activity, a community must consider all of the benefits the activity will provide (not just insurance premium reductions) in order to determine whether it is worth implementing. a. Costs No fee is charged for a community to apply for participation in the CRS. The only costs the community incurs are those of implementing creditable floodplain management activities and the staff time needed to prepare the CRS Application. b. Benefits It is important to note that reduced flood insurance rates are only one of the rewards a community receives from participating in the CRS. There are several other benefits. First, the CRS floodplain management activities provide enhanced public safety, a reduction in damage to property and public infrastructure, avoidance of economic disruption and losses, reduction of human suffering, and protection of the environment. Second, a community can evaluate the effectiveness of its flood program against a nationally recognized benchmark. Third, technical assistance in designing and implementing some activities is available at no charge. Fourth, a CRS community's flood program benefits from having an added incentive to maintain its flood programs over the years. The fact that the community's CRS status could be affected by the elimination of aflood-related activity or a weakening of the regulatory requirements for new development, should be taken into account by the governing board when considering such actions. A similar system used in fire insurance rating has had a strong impact on the level of support local governments give to their fire protection programs. Fifth, implementing some CRS activities, such as floodplain management planning, can help a community qualify for certain Federal assistance programs. http://training.fema.gov/EMI Web/CRS/m 1 s3main_a.htm 3/22/2007