FEMA Flood Insurance Changes (Biggert-Waters Act)
This thread is for discussion of the Biggert-Waters Act and its impact on St. Petersburg.

I believe there is a group forming through CONA to address the FEMA flood insurance issues. Can anyone provide me with the name(s) of anyone in this group? I live the Old Southeast and, of course, this issue is of great concern to many of my neighbors. We would like to invite an appropriate person to speak at one of our general meetings. Thank you for you help.
I have volunteered to be involved in a group that investigates the current direction of the Biggert Waters Act, its implications and possible solutions.. My best current source is the information compiled by the St Petersburg Chamber of Commerce.. https://stpete.site-ym.com/?page=2013FloodFAQ
Jake Holehouse (Holehouse Insurance) has made several presentations and I do have a power point he made to the chamber.

The Flood Insurance issue has several facets. The Biggert Waters Act mandated that flood insurance rates need to get to market rates.. Current owners were to be raised about 20% per year, but if the property is sold it immediately goes to market rates (the ones you see in the paper).. Certainly it affects a lot of people quickly...

The National Flood Insurance program was always envisioned to get to market rates at some point. With no renewal bill, that will happen automatically as the "discount" is paid from the tax base and has to be renewed periodically.. Biggert Waters was envisioned to set a 5 year period that would gradually increase the rates - once and for all..

To deal with the current law, I would suggest getting Jake Holehouse of Ronald F. Holehouse Insurance Agency Office- (727) 823-5551
to come speak . I am also attaching a power point Jake presented to the Chamber of Commerce...

Currently there are 2 initiatives in Congress to deal with delaying the law - One is within the confines of the current budget negotiations and is expected to pass later this week. The other, Senate bill (S.1846), effectively delays the increases for 4 years is expected to be acted on later this month or next. It will likely pass the Senate and run into trouble in the House. Search for Biggert-Waters on the internet as well as the links on the Chamber of commerce Site listed above.... Lots of info.

Jeff Brandes is introducing a bill in Florida Legislature to encourage private companies to offer Flood insurance to help drive prices down and Karl Nurse is working with the newly formed Sustainability Council and the City to find ways to harden the City to improve our FEMA scores, which drive rates down as well seek grants that would allow the City to help homeowners address ways to direct flood mitigation.

I have suggested to Lisa that we form a committee to address the Flood Insurance/.Flood mitigation issue to better inform our neighborhoods as well as assist local Governments in flood mitigation awareness..

For those wanting to Join me, either email me at- -jmichael.gulley@gmail.com or call me at 727-244-8374.

Mike Gulley

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