RESOLUTION NO. __________, SERIES 2016
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A RESOLUTION RELATING TO THE METROPOLITAN SEWER DISTRICT FLOODPLAIN BUYOUT PROGRAM.
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Sponsored By:
WHEREAS, Louisville Metro has been faced with a series of weather events that have left significant damage to both public and private properties throughout Louisville Metro; and
WHEREAS, the mission of the Louisville-Jefferson County Metropolitan Sewer District ("MSD") is to "build, maintain and operate quality wastewater, flood protection and storm water facilities for the people of our community"; and
WHEREAS, on April 3, 2015 Louisville Metro experienced a substantial rainstorm that left six to eight inches of rain in a twelve-hour period, prompting 185 water rescues, stranding over 82 motorists, canceling school, mandating an evacuation of many homes and businesses including the Guardian Court Apartments and the closure of many streets and access ways throughout the Metro including Ridge Road between Shady Lane and Glenbrook Road, National Turnpike between the Gene Snyder and Outer Loop, and the collapse of a portion Kentucky Highway 22; and
WHEREAS, Louisville Metro currently has over 12,500 structures located within flood-prone areas, of which, only slightly over 5,000 have insurance policies through the Federal Emergency Management Agency (FEMA); and
WHEREAS, in 2006, the Louisville Metro Council implemented strict rules in an effort to keep flood insurance premiums low, including prohibiting homeowners from making repairs to their house totaling more than 50% of the home's value over a 10-year period, which helped to improve Louisville Metro's scoring in FEMA's Community Rating System (CRS); and
WHEREAS, prior to the passage of the 2012 the Flood Insurance Reform Act, the federal government subsidized large portions of homeowner's mandatory flood insurance costs, however now rates will truly be based on the risk of future flooding, doubling the flood insurance rates with the potential for even highe...
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