Colorado Earned A Class 5 Rating From National Flood Insurance Program

From the City of Colorado Springs:

November 5, 2019

Colorado Earned A Class 5 Rating From National Flood Insurance Program

COLORADO SPRINGS, Colo. - In cooperation with the Pikes Peak Regional Building Department, the City of Colorado Springs maintained its lofty rating in the National Flood Insurance Program’s Community Rating System, earning a “Class 5” rating for the second-straight year. The rating places the city in the top 10% of participating communities and equates to lower flood insurance premiums for thousands of structures in Colorado Springs.

The CRS is a voluntary incentive program that recognizes communities that exceed the minimum NFIP requirements. The CRS program was developed to provide incentives in the form of insurance premium discounts for communities that exceed the minimum floodplain management requirements and develop extra measures to provide protection from flooding. The CRS program rates a community from 1 to 10, with 1 being the highest rating possible. In 2017, combined efforts of the Floodplain division of the Pikes Peak Regional Building Department (PPRBD) and the City of Colorado Springs to reduce flood risk and increase risk awareness resulted in a CRS classification rating adjustment from a 6 to a 5. According to FEMA, 1,500 communities participate in the CRS, of which, less than 140 have achieved a rating of 5 or better, putting the City of Colorado Springs in the top 10% nationally.

“This continued recognition is one of the early benefits of the voter-approved Stormwater Enterprise, which is making a tangible difference in protecting our community and our downstream neighbors from flooding,” said Mayor John Suthers. “The Stormwater Enterprise, as well as PPRBD, deserve great praise for so effectively addressing long-standing stormwater issues and for so quickly showing measurable improvement in service to our residents.”

“The CRS ranking of 5 reflects a great deal of hard work and coordination between the Pikes Peak Regional Building Department, numerous City departments, as well as Colorado Springs Utilities, said PPRBD Flood Plain Administrator Keith Curtis, “It is a great example of how we are all working together to improve storm water management and reduce flood risk. The CRS rating of 5 helped to lower flood insurance premiums by 25% throughout the community. That translates to about $1 million in annual savings for the community.”

Approximately 4,000 structures in Colorado Springs are covered by flood insurance. Of those, approximately half will benefit from the City’s participation and class five rating, saving property owners approximately $500,000 in premium reduction each year. Each advancement in class represents a 5% decrease in premiums.

This press release was produced by the City of Colorado Springs. The views expressed here are the author’s own.