RESIDENTS DROWNING IN FLOOD INSURANCE COSTS
Village with history of water damage seeks to identify flood zones
GREEN ISLAND >> Albany County officials gathered Monday to voice their concerns with the prices paid by residents in Capital Region river communities for flood insurance, especially in Green Island where flood damage of a residential home has not take place since 1936, village officials said.
Flood insurance for an example home in 2015 was $2,452. That’s nearly double the amount paid for homeowners insurance — $990.
Sean Ward, a county legislator and village resident, said his flood insurance is expected to increase to $3,065 in 2016, $3,831 in 2017, and $4,789 in 2018.
Green Island Mayor Ellen McNulty-Ryan said that since 1978, when the National Flood Insurance program was adopted in Green Island, there have been five reported flood claims and three actual awards totaling $29,308. But, in the past 37 years, village residents have paid $3 million in flood insurance premiums.
Residents were affected by flooding in 1913, when the crest hit 29.7 feet, and in 1936, when the crest was 29.4 feet. The third highest crest on record, in 1938, was 27.1 feet and did not affect any village residential homes, said McNulty-Ryan.
“History shows that Green Island has not flooded in decades,” she said.
While the flooding itself has not had a direct impact on the community, the f lood insurance has, she said, adding that she had heard from a number of young families who either could not afford to live in the village due to the insurance or had to move out because of it. McNulty-Ryan said the village clerk gets about four calls each week regarding flood insurance.
On Monday, multiple Albany County officials called on a new hydrology study to be done, along with examining how flood rates are determined. Funding has been designated by the state’s Canal Corporation for a hydrology report but it is unclear if there will be enough money for the entire area to also determine if people are paying more than they should in other river communities like Watervliet, Cohoes, Waterford, and Troy.
“I have the same rates as someone below sea level along the Mississippi,” said Ward, whose home is about 28 feet above sea level.
He did acknowledge that some had been affected by flooding, including the Heatly School which is located along the Hudson River. Sandbags are a usual sight near the school when high water levels are expected.
Albany County Executive Dan McCoy, Albany County Legislative Chairman Shawn Morse, County Clerk Bruce Hidley, and state Assemblyman John McDonald attended the press conference.
The Federal Emergency Management Agency, these officials said, utilized a range of data sources for the recent revisions that may not accurately represent more recent peak flow data and the effect of additional flood mitigation measures on flood control.
Officials said that accurately identifying areas that have flooding potential and those zones that do not would be a game-changer.
“It could turn the tide on this discussion,” said McDonald.