Flooding
Community Rating System (CRS)
The Village of Lincolnshire has been a member of the National
Flood Insurance
Program's Community Rating System since 1992. The CRS program
is a voluntary
auditing program that is used to assure our residents that the
Village meets or exceeds
the requirements of the NFIP. The CRS measures the Village’s
activities relating to
the floodplain and rewards communities which have strong floodplain
ordinances and
who take a proactive stance against flooding. The CRS assigns credits
to a variety of
activities taken to ensure appropriate floodplain management measures
are
implemented. A main criterion of these activities is that the Village
achieve a
Building Code Effectiveness Grading Schedule of 5 or better. Lincolnshire
has maintained a high grade of 3/3 since 2001. Credits in the CRS
program are totaled
and put into classifications with 'Class 10' being the lowest
classification and 'Class
1' being the highest. The Village first achieved a Class 9 rating
upon initiation.
Since 2005, the Village has been a Class 5 community.
Residents who purchase flood insurance for structures
located in the floodplain are
currently eligible to receive a 25 percent discount on their flood
insurance premiums
under the Village’s Class 5 rating. Structures located outside
of the floodplain
receive a 10 percent discount on premiums. Preferred Risk Policies
do not receive
discounts. As of September 2007 (the most recent period for which
data is available), there were 117 NFIP policies in the Village
with a total annual premium of $91,740.
Through its participation in the CRS program, policy holders in
Lincolnshire saved a
combined $19,444 that year. |