5/19/1992 - Laserfiche WebLink

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PUBLIC DISCUSSIONS NATIONAL FLOOD INSURANCE PROGRAM Dr. Peter Fallon came before the Board to request a Resolution in opposition to Senate Bill 1650 Regarding Title XI of the National Flood Insurance Mitigation and Erosion Management Act of 1992. He explained that $750 million worth of buildings along the coastline will be affected, which amounts to 15 to 17 percent of the tax roll, or $12 to $14 million in actual cash. This action will cause the present setback lines to be replaced by zones of significant, moderate and greatest erosion, and structures within those zones would lose their flood insurance, and without flood insurance those buildings would not have any marketable value. If the bill passes, Dr. Fallon stressed this would cause a terrible impact on the tax roll of beachfront property which in turn would translate into reduction of public safety services, and most importantly, reduction of school funding. Chairman Eggert understood that some areas west of the river also would, be in the new zone categories, which Dr. Fallon confirmed. Commissioner Scurlock reported that his brief research into this issue shows that originally the national flood insurance program was focussed on the river basins rather than coastal communities, which Dr. Fallon confirmed. Chairman Eggert agreed, and added that the details of the bill cause concern because it affects not only coastline structures but also the west portion of the county. It is unclear as to what the results may be and what will happen with the changed zone categories in the future. Commissioner Scurlock felt the bottom line of the legislation is to say, "Don't build down near the water, period," but it is much more complex because when rivers rise and people get flooded, we all are paying for it, and the results become complex. Dr. Fallon advised that this very bill excludes the Mississippi River Basin area, which comprises 43 percent of all the claims. The bill is really meant for areas like North Carolina that have no coastal management zones in force. Discussion ensued about the status of the legislation and Dr. Fallon explained that the bill is out of the committee and is moving forward as an amendment to Senator Alan Cranston's National Housing Bill. It has passed through the House of Representatives and will be introduced in the Senate on the 21st. Dr. Fallon pointed out that some politicians voted for the bill without reading it and mentioned Representative Jim Bacchus as one such individual. 11 BOOK