On Tuesday, city officials announced that some homeowners in Districts 2 and 4 will save $9 million dollars due to the City working closely with Federal Emergency Management Agency (FEMA) to remove homes from the flood zone map and the Public Service Board (PSB) for making improvements to Channels 1 and 2.
“The flood zone removals were possible due to the excellent working relationship between the City, FEMA, and the PSB,” said City Manager Tommy Gonzalez. “El Paso homeowners in those districts will benefit by not being required to have flood insurance.”
“This system of integrated flood control projects is a great example of the stormwater fee at work,” said John Balliew, El Paso Water President and CEO.
“The $14.6 million Northeast flood control project significantly improves public safety and protect private property.”
The city shared the following projections, based on the number of parcels removed from the maps. The City, FEMA, and PSB are currently working on removing flood zones in Districts 3, 6, and 7.
- District 2 homeowners will save $1.3 million with the removal of 698 parcels
- District 4 homeowners will save $7.7 million with the removal of 4,178 parcels.
Homeowners will benefit by
- Lowered insurance rates or not having to pay flood insurance
- Increased property values
- More marketable resales
- Better qualification for loans
Homeowners can visit the Interactive Maps on the Planning and Inspections webpage and click on the Flood Zone (NE LOMR) to check if the change affects their property.