The Village of Key Biscayne’s recently updated its Community Rating System (CRS) rating that could result in a 10 percent discount on residents’ flood insurance policy starting in April 2021.
The CRS’s mission is to encourage communities to bring a higher level of resiliency to the community. Communities must meet three goals to qualify for the CRS rating program: reduce flood losses, facilitate accurate insurance rating, and promote the awareness of flood insurance.
Compliance is achieved by implementation of 19 CRS-approved activities in four categories: public information, mapping and regulations, flood damage reduction, and flood preparedness.
In addition to having a staff member dedicated to flood plan management, Key Biscayne recently hired a new building official to ensure compliance to Florida building codes. Additionally, the village hired a Chief Resilience Officer, who is tasked with developing and implementing several ordinances supportive of enhanced resilience.
Village residents in November approved the General Obligation Bond Referendum allowing Key Biscayne to use up to $100 million in bonds to execute resilience projects to upgrade infrastructure and protect the village’s natural assets.
Participating communities can improve CRS ratings and increase flood insurance premium savings every five years.