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/ /i J I. ~/i 1 JIi JI/ T.~1i <br /> August 6, 1996 Public Works <br /> CONTACT: Nancy Burns, Public Works Engineering, 687-5086 Administration <br /> City of Eugene <br /> Public Information Section, 465-2739 858 Pearl Street <br /> Eugene, OR 97401 <br /> FOR IMMEDIATE RELEASE (503) 687-5262 <br /> EUGENE MERITS REDUCED FLOOD INSURANCE PREMIUMS <br /> Effective October 1, property owners within Eugene's Special Flood Hazard Area will be <br /> entitled to receive a 10% reduction in flood insurance premiums based upon Eugene's recent <br /> Class 8 rating as part of the National Flood Insurance Program's (NFIP) Community Rating <br /> System (CRS). The CRS recognizes effective floodplain management practices. Eugene's <br /> Comprehensive Stormwater Management Program helped improve Eugene's previous Class 9 <br /> rating which carried a 5% flood insurance premium discount to a Class 8 with a 10% discount. <br /> Approximately 3,000 properties within Eugene's urban growth boundary fall within the <br /> federally designated Special Flood Hazard Area. The average flood insurance cost for a <br /> residential home in the Eugene area is about $300 a year. With a Class 8 rating, a $30 savings <br /> can be claimed. The improved CRS rating and premium discount is effective October 1, 1996 <br /> through September 30, 1997. Flood insurance is available only to communities that enforce <br /> floodplain regulations that meet or exceed minimum NFIP standards. <br /> The City of Eugene has participated in the NFIP, a federally subsidized program that <br /> provides federally backed flood insurance, since 1968. Participation also ensures federal <br /> financial assistance to repair and reconstruct insurable buildings within federally designated <br /> <br /> flood hazard areas in the event of a disastrous flood. <br /> For more information, contact Nancy Burns, CRS coordinator, at 687-5086. <br /> <br />