Homeowners in Termino Avenue Flood Zone Won’t Need Mandatory Insurance Thanks to Improvements
2012-11-08 · By Editor
Long Beach property owners near Colorado Lagoon will no longer be required to obtain mandatory flood insurance for federally backed mortgages, Supervisor Don Knabe announced today.
A recent Federal Emergency Management Agency (FEMA) Letter of Map Revision removed 48 parcels from the area in the wake of completion of Los Angeles County’s $25 million Termino Avenue Drain project in 2011. The 2.3-mile project enhanced protection from flood waters that have plagued the community for decades.
“This is exciting and welcome news that will save area homeowners up to $1,600 annually,” Supervisor Knabe said. “After the patience our residents showed during this project, I am thrilled that they have finally been relieved of a financial burden they’ve had to bear for many years.”
The announcement follows FEMA’s removal of the Special Flood Hazard Area north of the Long Beach Greenbelt near the Colorado Lagoon.
“The success of the Termino Ave. drain project was the result of an outstanding partnership between the County, the City of Long Beach, and residents that, combined with the financial savings, will benefit the community for generations to come,” Supervisor Knabe added.