you're reading...
News and Info

Updated Manual to Clarify Flood Insurance Incentive Program

The Federal Emergency Management Agency (FEMA) will soon release an updated CRS Coordinator’s Manual, the guidebook for the Community Rating System (CRS), an optional component of the National Flood Insurance Program that offers incentives to communities that do more than the minimum requirements to help citizens prevent or reduce flood losses.

The CRS Coordinator’s Manual outlines how the program works, what activities are eligible for credits and how credits are calculated. Once earned by the communities, these credits determine a community-wide percentage-based discount on individual NFIP policy premiums.

While the manual is undergoing final review at the Office of Management and Budget, it is expected to be finalized by Jan. 1, 2017. Once final, the manual will be available for download at CRSresources.org.

FEMA said no major changes are included in this update (unlike the most recent update to the Coordinator’s Manual in 2013). However, the agency does note some of these changes are “quite important.” For example:

  • Changes will be made to the CRS repetitive loss categories impacting category definitions and management responsibilities to meet CRS requirement.
  • The freeboard prerequisite for becoming a CRS Class 4 community is being clarified. New language will clarify the one-foot freeboard requirement must be implemented throughout the SFHA eliminating an unintended misconception resulting from previous edits to the provision.
  • The manual will include a standard for incorporating sea level rise within several CRS elements options for watershed management planning credit for coastal communities.

For more information, see the latest edition the NFIP/CRS Update from FEMA, or contact Tamra Spielvogel at 202-266-8327.

About HBA of Delaware

HBA/DE has been an integral part of the growth and economic development of the State of Delaware since 1947. HBA/DE was founded as a non-profit state affiliate of the National Association of Home Builders (NAHB) representing home builders and other businesses directly related to Delaware's Home Building Industry. Consisting of Builders, Remodelers and a group of diversified associate members, the Home Builders Association of Delaware strives to protect and preserve housing as a symbol of America. www.hbade.org

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

back to HBADE Website

RSS NAHB Now

  • Awards That Give Remodelers National Prestige July 26, 2017
    The most successful companies typically implement innovative strategies, deliver superior products, and consistently provide high-quality service. But rather than simply saying your work is exemplary, validate it with an award through NAHB Remodelers.
    NAHB Now
  • July’s Remodeler of the Month: Follow Your Instincts July 25, 2017
    Resigning from a corporate career and starting your own business can be a difficult and scary proposition. It can also be very rewarding, if you have a quality product and strong work ethic. Just ask the NAHB Remodeler of the Month for July, Sean Beliveau, owner of Slate Creek Builders in Blacksburg, Va.
    NAHB Now
  • Senate Panel Approves $40.24 Billion HUD Budget for Fiscal 2018 July 25, 2017
    The Senate-T-HUD Appropriations Subcommittee today approved $40.24 billion in appropriations for HUD for fiscal 2018, which starts Oct. 1. This is an increase of $1.4 billion above the current level.
    NAHB Now
%d bloggers like this: