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REAL ESTATE FLOOD DISCLOSURE PROGRAM & FLOOD MAP INFORMATION SERVICES
Lisa Foster, CFM, Floodplain [email protected]
July 13, 2017
Agenda
10:30 - 12:00 Flood Disclosure Program12:00 - 12:30 Lunch 12:30 - 1:30 Flood Map Service Center
Why are you here?
• Save your clients money on their flood insurance premiums
• Reduce your risk of exposure to claims of misrepresentation
• Pinellas County Floodplain Management Program1
• The Community Rating System (CRS)2
• Flood Insurance Rate Map & Flood Insurance3
• Real Estate Disclosure Program4
• Flood Information and Disclosure Brochure5
• Flood Map Information Service6
• Lunch7
• Flood Map Service Center and Brochure Practice8
Today’s Overview
Preventive & corrective measures Outreach & Education
Federal Program Participation Planning & Response
FLOOD RESILIENT COMMUNITY
Pinellas County Comprehensive Floodplain Management Program
A Little Background…
Community Rating System (CRS)Incentive to go above and beyond NFIP minimum requirements
National Flood Insurance Program (NFIP)Maps and regulatory basis for local floodplain management
Federal Emergency Management Agency (FEMA)
How the CRS Works…
How Much Will Your Clients Save on Flood Insurance Premiums?
vs
SFHA vs Non-SFHA
SFHA: Special Flood Hazard Area• High-risk zones• Begin with “A” or “V”• Shaded blue on Flood Map
Service Center• Flood Insurance Required with
federally backed mortgage
Non-SFHA• Moderate- to low-risk zones• Begin with “X”, “B” or “C” • Moderate risk (shaded X zones):
• Shaded orange on Flood Map Service Center
• Low risk (unshaded X zones):• Unshaded on Flood Map Service
Center
*Also areas where the flood hazard is undetermined, labeled as Zone D.
• Moderate risk (shaded X zones):• Shaded orange on Flood Map
Service Center
SFHAHigh Risk
Non-SFHAModerate Risk
Non-SFHALow Risk
20% claims
1 in 4 chance of flooding during 30 yr mortgage
FEMA FIRM
Ratings:•Full Risk •Pre-FIRM•Grandfathering
Ratings:•Preferred Risk •Newly Mapped procedure
How Much Will Your Customers Save on Flood Insurance Premiums?
Unincorporated Pinellas County Flood Insurance Premium Savings
Flood Insurance Premium SavingsCommunity Name
Current CRS Class
(October 1, 2016)
SFHA Discount
Moderate/Low Risk Discount
Current CRS Discount (October 1, 2016)
Belleair 8 10% 5% $ 44,642 Belleair Beach 7 15% 5% $ 268,249 Belleair Bluffs 7 15% 5% $ 5,760 Belleair Shore 10 0% 0% $ -
Clearwater 6 20% 10% $ 1,742,842 Dunedin 5 25% 10% $ 1,019,127 Gulfport 6 20% 10% $ 345,776
Indian Rocks Beach 7 15% 5% $ 444,067
Indian Shores 6 20% 10% $ 354,153 Kenneth City 8 10% 5% $ 14,805
Largo 7 15% 5% $ 172,140 Madeira Beach 6 20% 10% $ 725,494
N Redington Beach 7 15% 5% $ 164,390 http://www.floridadisaster.org/mitigation/CRS/
Flood Insurance Premium SavingsCommunity Name
Current CRS Class
(October 1, 2016)
SFHA Discount
Moderate/Low Risk Discount
Current CRS Discount (October 1, 2016)
Oldsmar 6 20% 10% $ 403,244 Pinellas County 5 25% 10% $ 5,363,551
Pinellas Park 7 15% 5% $ 207,619
Redington Beach 7 15% 5% $ 220,127
Redington Shores 7 15% 5% $ 190,499
Safety Harbor 7 15% 5% $ 46,582
Seminole 10 0% 0% $ -
South Pasadena 7 15% 5% $ 261,261 St. Pete Beach 6 20% 10% $ 1,624,532 St. Petersburg 5 25% 10% $ 9,731,481 Tarpon Springs 7 15% 5% $ 513,128 Treasure Island 6 20% 10% $ 1,145,539
http://www.floridadisaster.org/mitigation/CRS/
Understand flood insurance
•20% claims from outside high hazard area•1 in 4 chance of flooding during 30-year mortgage•Homeowners insurance does not cover flood•Condo association policies do not cover personal
property or building elements wholly owned by the unit owner
•30-day waiting period
Understand flood insurance: Rating
• Flood Zone (LOMA)• Year Built• Base Flood Elevation• Lowest floor elevation • Enclosures• Flood vents• Elevation Certificate
Understand flood insurance: Elevation Certificate
An Elevation Certificate reveals your actuary flood risk
FEMA Letters
Why
Flood insurance rates to reflect full risk (actuary)
Homeowner Flood Insurance Affordability Act of
2014* (HFIAA)
Section 28,Clear Communication of Risk
What
Your property is at high risk for flooding.
These large yearly rate increases will not stop without
an Elevation Certificate (EC).
Keep your flood policy in force
Understand flood insurance: Rating
Actuary RatesFull Risk • Based on current FIRM info, lowest floor, lowest equipment, construction, etc.
Highly Discounted RatesPreferred Risk • Moderate to low risk areas
Non-Actuary / Subsidized Pre-FIRM• Built before first FIRM (1971-1974)
Non-Actuary / Subsidized Grandfathering • Continuous coverage or built in compliance
Non-Actuary / Subsidized Newly Mapped Procedure • Must have coverage within 1 year of map change
PRPRESIDENTIAL (1-4 Family): Effective April 1, 2016 for properties (B, C, or X Zones)
Pre-FIRM• Built before flood maps • Non-actuarial (Subsidized)
Rating• Premium is not based on
individual property elevation
Post-FIRM• Original construction after 1972• Elevation certificate required• Actuarial (Full Risk) Rating • Premium based on elevation
compared to BFE.
Pre-FIRM vs Post FIRM
Pre-FIRM vs Post FIRM
Pre-FIRM
Post-FIRM
$2,235/yr $2,235/yr$2,235/yr
$819/yr$5,623/yr
$25,000/yr
FEMA Letters
Why
Flood insurance rates to reflect full risk (actuary)
Homeowner Flood Insurance Affordability Act of
2014* (HFIAA)
Section 28,Clear Communication of Risk
What
Your property is at high risk for flooding.
These large yearly rate increases will not stop without an
Elevation Certificate (EC).
Keep your flood policy in force
FEMA Letters
Your discounted rate will increase by up to 18% each year.
…you can continue to pay the discounted rate if it's lower.
Mitigation to Reduce Rate
Utilities Flood Openings
Floodplain Management and CRS Program:
Public Information Activities
Purpose:• Educate buyers on flooding and flood insurance before committed to
purchasing the propertyBenefits:• Agent:
– Reduced risk of exposure to claims of misrepresentation– Reduced flood insurance premiums
• Buyer:– Able to make informed decision – Reduced flood insurance premiums
Components:• Real estate flood information and disclosure brochure• Map Information Service training
Real Estate Flood Disclosure Program
Flood Information & Disclosure Brochure
Flood Information Website
Flood Information Website: Maps/Zones
Pinellas County Online Flood Map Information Service Features• Flood Information• Real Estate Disclosure
and Brochure• FEMA FIRM• County FHA• Elevation Certificates• Evacuation Zone• Storm Surge• Natural Floodplains• Current Water Levels
Coming soon:• Seal Level Rise Projections
Flood Information Service Center Guidelines
1. Base Map2. Layers3. Legend4. Ruler
1 2 3 4
• Use the address search box to locate the property.
• Click inside the actual parcel
Flood Information Service Center Guidelines
• Use the arrows to scroll through the flood map information.• Data is for the spot that you clicked, not the whole parcel.
Flood Information Service Center Guidelines
• If it is in the SFHA (Parcel has any blue shading on it), check the top box on the brochure.
Flood Information Service Center Guidelines
• If is in the moderate or low risk areas (Parcel has NO blue shading on it), check the top box on the brochure.
Flood Information Service Center Guidelines
• If it is in the Coastal Barrier Resource System Area, check the middle box
Flood Information Service Center Guidelines
(Tierra Verde, North Sand Key, North Clearwater Beach)
• Use the address search box to locate the property.
Flood Information Service Center: Storm Surge Protector Guidelines
• If surge depth >0 (for any evacuation level – click A, B, C, etc…), check the forth box. If it is in an evacuation zone, check the last box and enter the evacuation level.
Flood Information Service Center: Storm Surge Protector Guidelines
Real Estate Disclosure Program Documentation for CRS Credit• Program participation letter• One copy of completed brochure
Real Estate Disclosure Program Evaluation
• Tell us how we are doing!http://www.pinellascounty.org/surveys/PublicWorks
Pinellas County Marketing and Communications Department• Pinellas Citizens University• Publications• Speakers bureau• Volunteer Ops• Youth Advisory Committee
pinellascounty.org/speak
QUESTIONS?
Lisa Foster Floodplain Coordinator (727) [email protected]
Irena M. KarolakPublic Information SpecialistPhone (727) [email protected]
