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i <br /> <br /> 1 <br /> Public Works <br /> City of Eugene <br /> 858 Pearl Street <br /> Eugene, Oregon 97401 <br /> N E W S R E L E A S E (503) 687-5262 _ <br /> December 9 1991 <br /> CONTACT: N ncy Burns, Engineering Specialist, 687-5226 <br /> L s Lyle, City Engineer, 687-5291 <br /> From Sandr Gleason, Public Information, 687-5523 <br /> FOR IMMEDI TE RELEASE <br /> CITY'S F OODPLAIN MANAGEMENT PROGRAM REDUCES HOMEOWNER'S INSURANCE PREMIUMS <br /> On Oc ober 1, 1991, insurance premiums for flood insurance were reduced <br /> by five pe cent within Eugene's urban growth boundary. The reduction in the <br /> premiums i the result of the city of Eugene's participation in the National <br /> Flood Insu ance Program (NFIP) and the Community Rating System (CRS). The <br /> CRS is a n w national flood hazard awareness program that was created by the <br /> NFIP in 19 0. <br /> Only ommunities that participate in the NFIP are eligible to apply to <br /> the CRS an receive deductions in their flood insurance rates. The city of <br /> Eugene has participated in the NFIP since 1986 and was one of 332 communities <br /> across the nation to voluntarily apply to the CRS in its first year, becoming <br /> one of 293 communities accepted. As a result of the city's participation, <br /> Eugene pro erty owners are eligible for a deduction in premium costs for all <br /> new or ren wed flood insurance policies. These deductions went into effect <br /> in Eugene n October 1, 1991. <br /> Since the city of Eugene participates in the NFIP, local property owners <br /> can purcha a flood insurance that will protect them from losses due to <br /> flooding. Flood insurance is available not only for properties within <br /> designated flood hazard areas, but also for properties outside of such areas <br /> <br />