Los Angeles is revising its five-year plan for floodplain management in order to reduce hazards and bring down insurance premiums for property owners, the city’s Bureau of Engineering reported Thursday.

The revisions are expected to take about a year to complete, officials said.

The Floodplain Management Plan will be implemented through the Community Rating System, a voluntary program within the National Flood Insurance Program. Flood insurance premiums for property owners are discounted to reflect reductions in flood risk from actions that meet three CRS goals, which are to reduce flood losses, facilitate accurate insurance ratings and promote awareness of flood insurance.

The city of Los Angeles currently has a rating from the CRS that give property owners a 15% reduction in insurance premium costs for structures located in flood hazard areas, and officials said they are trying to get premiums lowered an additional 5%.

Residents will be asked to share local knowledge about flood hazards based on past occurrences.

The plan update is being overseen by a steering committee, chaired by the city’s Chief Resiliency Officer and made up of stakeholders from within the planning area. The steering committee meets on the second Thursday of every month, with the next meeting taking place on Oct. 10. All steering committee meetings are open to the public.

Meeting notifications and locations will be posted on the Bureau of Engineering’s website. The website and social media accounts for the bureau and the Department of Public Works will be the primary resources of information on the plan.

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