Floodplain management is the operation of a community program of preventive and corrective measures to reduce the risk of current and future flooding, resulting in a more resilient community. These measures take a variety of forms, are carried out by multiple stakeholders with a vested interest in responsible floodplain management and generally include requirements for zoning, subdivision or building, building codes and special-purpose floodplain ordinances. While FEMA has minimum floodplain management standards for communities participating in the National Flood Insurance Program (NFIP), adopting higher standards will lead to safer, stronger, more resilient communities.
The National Flood Insurance Program (NFIP) Community Rating System (CRS) was implemented in 1990 as a voluntary program for recognizing and encouraging community floodplain management activities exceeding the minimum NFIP standards.
Under the CRS, flood insurance premium rates are discounted to reward community actions that meet the three goals of the CRS, which are: (1) reduce flood damage to insurable property; (2) strengthen and support the insurance aspects of the NFIP; and (3) encourage a comprehensive approach to floodplain management.
The CRS uses a Class rating system that is similar to fire insurance rating to determine flood insurance premium reductions for residents. Currently, the Unincorporated Areas of Ventura County has a CRS Class rating of 5 which provides owners of properties in floodplains with an annual 25% insurance premium discount. Flood insureds of properties not in the floodplain are entitled to a 10% annual discount.