Miami Beach Receives Improved Class 5 Rating from FEMA
(Miami Beach, FL) Apr 3, 2019 -
Miami Beach’s Community Rating System (CRS) has officially improved to a Class 5 rating by FEMA, making the city one of only two cities in Miami-Dade County to achieve the score. Allowing communities to earn flood insurance discounts, CRS is a voluntary program that awards cities for conducting activities that promote flood insurance and reduce flood risk.
“Three years ago, we pursued an aggressive goal to improve our ranking from a Class 6 to a Class 5,” noted City Manager Jimmy L. Morales. “Our hard work in continuing our commitment to reduce flood risk for residents and businesses did not go unnoticed. This notable achievement is a direct result of policy leadership and staff coordination and collaboration.”
The designation will increase flood insurance premiums savings from 20 percent to 25 percent citywide effective May 1, 2019. Helping offset any increasing federal rates, the new estimated savings are expected to increase from $6.6 million to $8.3 million annually.
“I’ve seen few municipalities take such strong self-guided efforts to receive a better score on the FEMA Community Ratings System,” said John Lee, member of the Miami Beach Resiliency Communications Committee and Vice President of FirstService Financial. “I am proud to be on the committee that led the efforts to initiate this process and assisted in increasing the discounts Miami Beach residents receive on their flood insurance premiums. Miami Beach has been working hard for many years to combat climate change and flooding in their community. Their efforts are nothing short of phenomenal.”