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Council schedules public workshop on BFE+2 rule after flood-insurance rerating concerns
Summary
Councilmember Altieri requested a publicly noticed workshop to revisit Ordinance 558 (BFE+2) after new FEMA rating changes and projected flood-insurance premium increases; town staff will propose spring dates for a workshop open to contractors, architects and residents.
Councilmember Salvatore Altieri asked the Town Council of the Town of Indian River Shores to hold a publicly noticed workshop to revisit Ordinance 558, which incorporates a finished floor elevation (FFE) standard of two feet above base flood elevation (BFE).
Altieri said his January 21 memorandum, circulated to council and staff, lays out concerns about the ordinance’s financial impact on homeowners, developers and contractors and how recent federal re-rating of flood insurance ("Equity in Action") could multiply premiums. "There are 9,913 FEMA policies in ZIP code 32963," Altieri said; "8,903 of those policyholders will definitely face drastic premium increases over the next five…
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