‘Flood Insurance Savings Program’ Will Help Reduce Cost, Risk in Johnson Creek Floodplain
Portland, OR – The City of Portland today launches a new program to mitigate and prevent displacement among East Portland homeowners at risk for flooding and rising insurance premiums.
As many as 800 households in the Lents and Powellhurst-Gilbert neighborhoods could face substantial financial and environmental risk from the Johnson Creek floodplain, according to the latest estimates. As mandatory flood insurance premiums continue to rise each year (up to 18%), some area homeowners face the prospect of economic displacement. Even with flood insurance, flood damaged homes can be difficult to repair. At the same time, property values decrease, impacting investment in the area, and leaving low- and moderate-income homeowners vulnerable to predatory real estate practices.
Beginning in June, the Portland Housing Bureau (PHB) will pilot a new Flood Insurance Savings Program to help a limited number of low- to moderate-income homeowners in Lents and Powellhurst-Gilbert reduce their flood hazard insurance premiums, identify opportunities to make home improvements, and increase their resiliency to flood risks.
This program comes as the result of efforts underway in the Governor-designated “Lents Stabilization and Job Creation Collaborative” Oregon Solutions project, and leverages a unique partnership between the City of Portland and the local non-profit, Enhabit. Through elevation surveys and in-home assessments, Enhabit will determine the unique flood risks facing each home as well as the necessary improvements to improve its resiliency against flooding.
Interested participants can learn more about how to protect their property from flood hazards and save money on flood insurance this Saturday, June 3, at a community event ‘Life in the Floodplain.’ The event is hosted by the Portland Housing Bureau, together with faculty and students from Portland State University and the Oregon Solutions. Area residents will have an opportunity to share how they are being impacted, and ask questions of City staff, as well as State Representative Jeff Reardon and Planning and Sustainability Commissioner, Michelle Rudd.
Applications for the pilot Flood Insurance Savings Program will be available beginning June 3, and the deadline to submit an application is July 5, 2017. Interested participants can apply here: www.enhabit.org/flood
“Life in the Floodplain”
Saturday, June 3rd, 2017 from 12:00 to 2:00 PM
Earl Boyles Elementary School
10822 SE Bush Street
For more information, contact: Jacob Sherman
Jacob.Sherman@portlandoregon.gov
503.823.2373