Did You Know?
Flood Insurance - CRS Program
We are pleased to inform you that in 2009, the Federal Emergency Management Agency (FEMA) Community Rating System (CRS)
program has recertified Tinley Park’s Class 6 standing, which will continue to provide you with reduced flood insurance premium rates.
The successful annual CRS review of the Village’s flood management activities qualifies affected residents for a 20% reduction in flood insurance rates on properties within the Special Flood Hazard Area. Properties outside that area receive a 10% reduction in rates. This recertification indicates that our flood mitigation efforts and community outreach programs continue to be successful.
Flooded Buildings and Improvement Requirements
The National Flood Insurance Program
(NFIP) requires that if the cost of reconstruction, rehabilitation, addition or other improvements to a building equals or exceeds 50% of the building’s market value, then the building must meet the same construction requirements as a new building. Substantially damaged buildings must also be brought up to the same standards (i.e., a residence damaged so that the cost of repairs equals or exceeds 50% of the building’s value before it was damaged must be elevated above the base flood elevation).