Attention: FEMA Risk Rating 2.0 (Flood Insurance Premiums)

On April 1st, the Federal Emergency Management Agency (“FEMA”) released the first official communication on the redesign of the National Flood Insurance Program (“NFIP”)’s rating system.

The new pricing methodology, known as Risk Rating 2.0, utilizes the latest technology available to assess the flood risk of a property. Phase 1 of the new program begins on October 1, 2021.

In its announcement, FEMA shared a state-by-state breakdown of Risk Rating 2.0’s impact on flood insurance premiums. According to FEMA, Texas will see the following impact:

  • 14% of Texas residents with an existing flood insurance policy will see an immediate decrease in their flood insurance premium;
  • 79% of Texas residents with an existing flood insurance policy will see an immediate increase in their flood insurance premium that could range from $0 to $10 per month;
  • 3% of Texas residents with an existing flood insurance policy will see an immediate increase in their flood insurance premium of $10 to $20 per month; and
  • 4% of Texas residents with an existing flood insurance policy will see an immediate increase in their flood insurance premium greater than $20 per month.

We do not yet know how Risk Rating 2.0 will impact flood insurance prices in First Colony LID No. 2. However, if you already have flood insurance, you are grandfathered into how fast your flood insurance premium can increase. It is federally mandated that a flood insurance premium cannot increase by more than 18% per year. Therefore, we encourage you to get flood insurance. You can do so by contacting your home insurance provider. Since a flood insurance policy takes 30 days to go into effect, you must purchase your policy by September 1, 2021, for your policy to become effective prior to the effective date of Risk Rating 2.0 (October 1, 2021).

Additional information regarding risk rating 2.0 can be found at the following link: Risk Rating 2.0: Equity in Action | FEMA.gov

FCLID 2 – Tropical Storm Nicholas Weather Update 9/13/21

FCLID 2 is monitoring Tropical Storm Nicholas which is expected to bring the potential for a heavy rainfall event and flash flood threat this evening through Wednesday for SE TX.  Based on National Weather Service local predictions, the heaviest rain is predicted to occur between Monday evening into Tuesday night.  Rainfall amounts will average from 10-20 inches but isolated areas may receive up to 20 inches.  Fortunately the Brazos River is at a low level that does not impact drainage within the FCLID2 levee.

LID Solutions, the District’s Operator,  has completed all the necessary and required preparations for Tropical Storm Nicholas as determined by the District’s approved Emergency Action Plan.

Monitoring of the forecast along with local rainfall amounts will continue for the duration of the storm. All District owned flood fighting equipment is in place, tested, and  operating correctly.

As a reminder to all residents, please keep your storm drains and curbs clear of debris that may slow street drainage.

We encourage residents to continue to monitor forecasts for the area and follow trusted weather sources for information, recommendations and changes to the forecast.  (Houston/Galveston National Weather Service and West Gulf River Forecast Center)

 

Notice of Public Hearing on Tax Rate

The First Colony Levee Improvement District No. 2 will hold a public hearing on a proposed tax rate for the tax year 2021 on September 7, 2021 at 12:00 PM at 4330 Knightsbridge Blvd., Sugarland, Texas 77479. Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the tax rate that is adopted and on the change in the taxable value of your property in relation to the change in taxable value of all other property. The change in the taxable value of your property in relation to the change in the taxable value of all other property determines the distribution of the tax burden among all property owners.

Click here to read notice.