Politics & Government
Albertville City Council to Vote on Joining National Flood Insurance Program
If the vote goes through, residents would be allowed to purchase up to $45,000 in flood insurance.
The Albertville city council meeting is scheduled for Tuesday night this week due to the President’s Day holiday on Monday. The meeting will start promptly at 7 p.m.
The first order of business will see the St. Michael/Albertville Baseball Association present the city with a donation to help with park expenses.
Also on the agenda is a vote on the city of Albertville joining the National Flood Insurance Program. If the city opts in to the Emergency Program this spring, residents will be allowed to purchase up to $45,000 of flood insurance ($35,000 for building and $10,000 for contents).
The rates for residents joining the Emergency Program would initially be higher but once Albertville is accurately mapped and introduced into the program, rates would start to come down. Initial estimates of $45,000 worth of coverage is considered adequate for residents with basement flooding issues.
The NFIP (National Flood Insurance Program) would make it more affordable for homeowners in flood zones – defined by the mortgage company or the county – to purchase flood insurance. At present, St. Michael and Otsego are both mapped cities and as such are included in the current program.
