Montgomery County to consider updating tax abatement policy PDF
Preview Montgomery County to consider updating tax abatement policy
online exclusive news impactnews.com INSIDE regularly updated coupons impactdeals.com THIS ISSue find us on facebook impactnews.com/wdl-facebook follow us on twitter @impactnews_wdl NEWS 08 Impacts The Woodlands ediTion volume 3, Issue 8 | may 8–June 11, 2014 Now Open, Coming Soon & more 10 Insurance Montgomery County to MONTGOMERY COUNTY The county has attracted New flood maps announced businesses to the area through Tax abaTEMENTs its tax abatement policy and 13 transportatIon benefits in terms of added jobs consider updating tax Hwy. 242 flyover project update and revenues. 15 update TOTaL abaTEMENTs GIVEN sINCE 1988: 93 SJRA to return to Research Forest abatement policy 27 50 3 16 21 16 development Woodland Creek announced Tiger Woods to design local course Woodlands sees increases in jobs, revenue Current Expired / Approved to Canceled via Denied for 19 busIness Cancelled start in 2014 withdraw or default various reasons Baker Hughes opens new facility By David Pollan and Jesse Mendoza A tax abatement is an exemp- TOTaL JObs & PROPERTY VaLUE aDDED TO MONTGOMERY 21 aIrport Montgomery County Judge tion of property taxes on COUNTY FROM MaY 1988–DECEMbER 2013 Customs facility planned Alan Sadler has tasked Tax improvements to a parcel of Assessor-Collector J.R. Moore land, Sadler said. For instance, 1988-2012 2013 22 brIefs with heading a commission that if a business buys property in TOTAL 15,989* 14,424 1,565 25 development hIghlIghts will review and update the coun- the county and applies for a tax bs Apartment construction update ty’s tax abatement policy before abatement, the company would Jo heIcth onisle“mde O atombevnfrae eimts t htitoce heffi ae iy snnc egtuejaou mrI d. i wsbgb eeaarr nseseita cx staposoleinl rydm e ostb hublapeeet d fotttahhartxeeee solsbpattneairn ln uldt yach, btpweubaa rotuayeeus t d solpd,ein fsr snomteihpotde etea wrplvntaeaayinnryl ude gtt a, aa tttxxiothoehe anssetb ouwobcnifoalo dsuttmehh lddaee- Property ValueTTOOTTAALL $$15,30,4809,95,41957,823 $$5930,38,6286,06,27590 $137,$23805,,507323 County Tax Assessor’s Office 222SMt697oa bnfteetrylg Se ootecmmhnteae Itrto eynhn CDue oigmswutubrneiIetcdbytre J4sudge asabiadt.e m“Oeunrt taaxg raebemateemntes,n” t Sagadreleer- iomf ptriomvee.m eThntes fcoorm ap saenty amwoouunldt Tax Revenue Montgomery PFreEcinActT 2 CUomRmEissSioner myeeanrst st oa r1e0 ayneyawrsh aenred farnoymw hfievree oerntlyy tapxaeys oa np tehrec epnrtoapgeer toyf foprr othpe- *6,974 jobs created as a result of the 27 active abatements Source: 32 calendar from 50 percent to 100 percent agreed-upon amount of time. has not adjusted or updated the criteria should be updated and 35 lIve musIc abated based on jobs and added Although the tax abatement criteria to the policy since 2008, what recommendations to make value. We need to update those to policy in Montgomery County Moore said. He is conducting to the county court. 36 busIness bring them to 2013-14 numbers.” was renewed last year, the county research to determine how the See Abatements | 60 Bikeland Mom’s Secret Chef 39 dInIng FM 2978 corridor on verge of more Sitar Indian Cuisine 41 chef’s corner commercial growth, lane expansion Mainstreet America 42 InsIde InformatIon Utility improvements, road widening Health care document sharing Commercial development 43 people key to area’s development There are more than 30 parcels of land for Jack Cagle sale on FM 2978 between Spring Creek and Tom Coale By Brian Walzel Woodlands Parkway. Many of the parcels 47 guIdes More than 650 acres of land are for sale range between two and 20 acres and are tar- Village parks along FM 2978 between Spring Creek and geted for commercial development. Among Summer activities Woodlands Parkway. However, developers the properties that have recently been devel- Public art and Realtors believe widespread develop- oped are The Estates Woodland apartment 55 close-up ment could still be two to three years away as home development at 30685 FM 2978 and ORWALL much-needed infrastructure improvements the JJ Business Park at 26232 FM 2978. catch up with land sales. Greg Holcombe of Holcombe Properties 57 corrIdor The delayed expansion of FM 2978 is hin- has eight parcels of land on the market rang- 58 regIonal dering development. Meanwhile a lack of ing from a half acre to about 14 acres. Most, utilities such as water and sewer lines at some if not all, will be developed as commercial 64 real estate parcels, is also problematic, developers said. property. COUPONS “The road widening is a huge part of it,” said “This is one of our major areas,” he said. Mendoza RCoobm Bmaenrzchiaalf ,R meaaln Easgtiantge .p “rIitn’sc liipkael wofh Nene wcocnor- “WRea’rye Ageltltiisnogn c, adlilsr edcatiolyr. ”of commercial real 65 Impact deals Jesse struction was complete on the Kuykendahl estate services for Gary Greene Commer- As the pace of development continues to increase, FM [expansion], the market exploded.” cial Properties, said the FM 2978 corridor ONlINE Impactnews.com 2978 is planned to be widened to ease traffic. See FM 2978 | 62 4 news Community Impact Newspaper • impactnews.com Creekside 4568 sq ft / 5 bedrooms / $824,900 / Bult in 2011 Available Suites: Cell: 281 898 1591 Office: 281 298 8707 The Woodlands Edition • May 2014 news 5 FROm ThE GENERAl mANAGER My wife and I recently avoiding long customs and travel delays inherent in took our two grandchil- going through Hobby, Intercontinental or Sugar Land. dren to see the airplanes We cover the issue on page 21. and have lunch at the In addition, tax abatements are another recruiting Black Walnut Café at the tool that is helping fuel the growth in our area. These Publishers and founders John and Jennifer Garrett new Galaxy FBO facility tax incentives drive economic growth. Although our Publisher - housTon MeTro at Lone Star Executive market is attractive to new companies, we are fiercely Jason Culpepper Airport in Conroe. The competing with other communities around the county. General ManaGer Jim pollard, [email protected] restaurant was packed In this month’s issue we provide an in-depth look at with diners and the how many companies are enjoying those abatements Editorial experience was worth the and the effect they have on the local economy. foundinG ediTor Cathy Kincaid 20-minute drive from Two very important elections are coming up this execuTive ediTor shannon Colletti ManaGinG ediTor emily Roberts The Woodlands. month, and we have a three-page Election Guide to help ediTor brian Walzel It made me better appreciate the significance of hav- you make informed decisions. Please vote in the special rePorTer Jesse Mendoza ing a nearby regional airport that serves the business election for state senator May 10 and in the run-off coPy ediTor abigail allen aviation needs of our community. Lone Star Executive election for Montgomery County judge and Precinct 2 sTaff wriTers amy denney, david pollan, John Rigg, Matt stephens Airport is a key component in drawing new compa- commissioner on May 27. conTribuTinG wriTers nicole bradford, Christine hall, nies to our area. Many of the companies moving here liza Winkler demand business aviation service. Advertising A potential addition to the airport is a new immigra- Jim pollard accounT execuTives Crystal shaffer, Jeff smith tions and customs facility. Business and international jpollard@Gimenpearcatln eMwasn.acGoemr accounT coordinaTor Meagan Miksch visitors would have easy access to The Woodlands, Design creaTive direcTor derek sullivan COmmUNITy FEEDBACk senior GraPhic desiGner Jackie brunk ad ProducTion ManaGer Tiffany Knudtson take the poll last month’s poll results Business vP of oPeraTions Claire love Are you in favor of The Woodlands for our april edition, Community Impact Newspaper circulaTion & oPeraTions ManaGer david ludwick Township and the county offering tax reported on health care facilities becoming more accessible to residents of The Woodlands area. The story About us abatements to incentivize companies? reported on new facilities and expansions of existing John and Jennifer Garrett began Community Impact hospitals that offer health care users more options closer Newspaper in 2005, in pflugerville, Texas. The company’s yes, the community benefits from corporate to home. relocations. mission is to build communities of informed citizens and thriving businesses through the collaboration of a no, the county should find other forms of incentives. What factor is most important to you when passionate team. now, with 16 markets in the austin, houston and dallas/fort Worth metro areas, the paper is yes, but they should do so very sparingly. making decisions about where to seek distributed to more than 1 million homes and businesses. health care treatment? no, the companies will come without them. Contact us other location 8400 n. sam houston parkway W., suite 220 houston, TX 77064 • 281-469-6181 30.12% impactnews.com Take the poll online at impactnews.com/wdl-poll patient reviews/recommendations Preasdsv erreTliesainsGes w wddlalndesw@[email protected] loof oCko mfomr tuhnei trye sImulptsa critg Nhte whesrpea ipne nr.ext month’s print edition 25.35% coMMenTs [email protected] physician recommendation subscriPTions impactnews.com/subscriptions 18.07% Cost Turn on FOX 26 NEWS, 14.46% download the MyFoxHouston app, other logon to www.myfoxhouston.com. For more local news with IMPACT. 12% ©2014 JG Media inC. all RiGhTs ReseRved. no RepRoduCTion of any poRTion of This issue is alloWed WiThouT WRiTTen peRMission fRoM The publisheR. Results gathered from an unscientific Web survey conducted april 10–april 28 242 45 Vision Park Blvd. 17830 Interstate 45 South The Woodlands, TX 77384 MINIOFTHEWOODLANDS.COM 1 (877) 742-1187 6 news Community Impact Newspaper • impactnews.com I chose the MD Anderson close to me - Gary Truver, Jr. When I had cancer, the world’s leading care was right here. My team of experts focused only on me and my cancer. They guided me through advanced MD Anderson treatment options including surgery, radiation, chemotherapy, clinical trials and support services. They customized a plan just for me. Three months after I completed treatment, my mom was diagnosed with breast cancer. MD Anderson was there for both of us. Having MD Anderson in our community kept me close to my wife and three boys, and my mom close to her grandsons. I chose the MD Anderson close to me. Find Your MD Anderson today. Appointments Available 713.745.9940 FindYourMDAnderson.com 14RCCM004R_Comm Impact News_Tomball_WL.indd 1 4/15/14 10:48 AM The Woodlands Edition • May 2014 news 7 PA I D A DV E R T I S E M E N T The J. Beard Real Estate Company Commercial Real F E A T U R E D P R O P E R T I E S Estate Leaders COLLEGE PARK PLAZA FOR LEASE LANDLORD & TENANT 3091 COLLEGE PARK DRIVE, THE WOODLANDS REPRESENTATION • Various spaces available • Conveniently located on College Park Dr. (SH 242) SITE ACQUISITION at Interstate 45 in The Woodlands • Site is adjacent to St. Luke’s Hospital and The Woodlands College Park High School, and across from Sam Houston State University and Lone Star College • Super Walmart, Lowe’s, Garden Ridge, Burlington and Kohl’s are in the immediate trade area SALES & LEASING , SHENANDOAH 128 VISION PARK FOR LEASE REAL ESTATE CONSULTING PROPERTY MANAGEMENT INSIGHT. LEADERSHIP. • Three- story building; 5-acre site • Typical fl oor plate: 25,000 SF; 75,000 SF available EXPERTISE. • Estimated completion: June 2014 • Tenants can start build out now • Covered parking 10077 Grogan’s Mill Road | Suite 135 The Woodlands, Texas 77380 Jeff Beard, CCIM (281) 367-2220 www.jbeardcompany.com President 8 news Community Impact Newspaper • impactnews.com IMPACTS 2978 1488 1 Terramont dr. ossing dr. Cochra College park dr. 15 4 242 branch Crsterling Ridge dr. ns Crossing The Woodlands 45 Shenandoah .r dlake Woodlands drd.. Research forest dr. Tamina Rd. R g flintridge dr. G oslinWoodl8ands p1k1wy. 9 6 3 7 RobOinsaonk Rd .R idge North Kuykendahl Rd. 14 Glen loch dr. Grogan’s 1Mi6ll Rd. 10 13hanna Rd. Ray f o r d R d . akos labirl evpmi d . .d R dle fi t se W e n i d la foelan blvd. W m a h nbri x o R o u d n s 12 ell Rdb. lvd. dr. Map not to scale 2 5 Riley fuzz Now Open 2 The fifth Houston area Kroger The Woodlands. With two satellite offices individual skills so students are able to Marketplace location opened April 11 in Houston and Conroe, Melissa Rascon, competently swim in each stroke. Classes 1 Brazilian Grain Coffee opened at 24350 Kuykendahl Road, Tomball. managing partner of the firm, will apply feature a 4-to-1 student-to-teacher ratio. March 8 at 8000 Research Forest Drive, The 120,000-square-foot grocery store her expertise to work and consult with 281-310-5561. Ste. 255. The restaurant offers a variety sells groceries, gas, pharmaceuticals and entrepreneurs who have domestic and www.aquatots-thewoodlands.com of coffees imported from Brazil as well apparel. The Kroger Marketplace also international tax issues. as espressos, cappuccinos and flavored houses a Fred Meyer Jewelers, a Murray’s 832-482-4611. www.rasconcpafirm.com 5 TopGolf opened its north Houston coffee drinks. Brazilian Grain Coffee also Cheese Shop, a health food section, and a location April 8 at 560 Spring Park serves breakfast seven days a week, such variety of to-go food and beverage options. 4 At 17943 I-45 S., Ste. 230, in Center Blvd., Spring. The three-level as homemade pastries and fresh fruit 281-205-0532. www.kroger.com Shenandoah, Aqua-Tots The Woodlands 65,000-square-foot facility offers 102 smoothies. 281-651-2459. offers a variety of instructional swim hitting bays, which can host up to six www.braziliangraincoffee.com 3 The Rascon CPA Firm PLLC has classes for ages 6 months to 12 years players at a time for a variety of games in opened at 1095 Evergreen Circle, Ste. 200, old. The goal of the classes is to teach which players test their hitting accuracy. OVER 2,500 RUGS TO CHOOSE FROM! RETIREMENT SALE Expert Rug Cleaning & Repair AFTER 50 YEARS, DON IS HANDING OVER THE REINS. 2978 W WAoLodMlaAndRs TPkwCro hsscyinn.agr B .W Terramont Dr.N 2wT3e08wrr3a1wm4-.oW03n 6toF Vo4Midll-al a9g2en79 dS97shoR89pu,p gSinGtgea Cl le8enr0tye0.rc aot mWo odlands Parkway 500+ RUGS ARE H5U0R%R OYF IFN OFEUOVERRRY EIBTEVEMES INRT TY HSED SEATLOYREE CPIST RONIIO CSANELE!!. The Woodlands Edition • May 2014 news 9 Compiled by Matt Stephens and Brian Walzel TopGolf also houses a full-service is a full-service branch with an ATM and Coming Soon restaurant with fresh ingredients, three night depository. Post Oak Bank offers full-service bars and other games, such small business, commercial and personal as shuffleboard and pool. 832-200-0106. banking services. 713-499-1313. 14 Levure Bakery has signed a lease for its www.topgolf.com www.postoakbank.com first French bakery in the new Creekside Park Village Center in The Woodlands’ 6 Austin-based Kendra Scott Jewelry 10 Hello Taco offers homemade tacos, Village of Creekside Park. Levure Bakery oPmpiineden-sAe Ddp rritiisvl. e nK,i Snenttehd. r9Ta6e Sx0c,a oisn tlt oM ocaffaterikrosen ta a Svtt ar9re5ie9ett5 yi nS i x tGAorrromtagasa,nn bd’soo Mw alnisl dla RnSdou asbdaun, rS rOtietco. aAsm a. tpO 2ow5 u1ns1ee4r fsr esh wGbariklelee brney. lLwoecivtahut erade m iisno a dtnhe eru nCp scrcoeaenlktees Fmidrepe noVcriahlrl ayg e 2 Matt stephens The fifth Houston area Kroger Marketplace has of earrings, necklaces, bracelets, rings and ingredients and no lard when creating approach. Along with pastries, Levure opened at 24350 Kuykendahl Road in Spring. accessories, and bridal jewelry. their distinctive menu items, which also will serve a limited breakfast and lunch 281-528-1174. www.kendrascott.com includes freshly made salsas. None of the menu, incorporating local and organic foods are fried and microwaves are not ingredients. The bakery is expected to open 7 Owner Inkar Imanbaeva has opened used at Hello Taco. 832-819-4639. later this year. Tulip Marketing Group at 1 Waterway www.hellotaco.com Avenue in The Woodlands. Tulip 15 A new Chick-Fil-A restaurant is under Marketing Group works to help small 11 The Republic Grille is now open construction at 3425 College Park Drive. businesses grow through marketing. at 4775 W. Panther Creek Drive in The popular fast food restaurant offers The company focuses on improving a the Panther Creek Village Center. The chicken sandwiches, chicken nuggets, cwaonhmaillype tapincrsyo ’vrse iwdpioenbrgt as p.n e8dr3 fs2oo-r3cm7ia7al- nm1c1ee9-d5bi. aa sperde sence Rcatuemipsuoinsbepl ihicne G raern.i Thlelec leoe ffrceteisrcts a HTuerilaxl naCst ooaunffndetr rSsy op uatthioe rn wseaxwlpaewdcs.tc eahdnic dtko m- fioipll-keans.ch olaamkteers .t hThise s uremstmauerra. n t is 5 Courtesy TopGolf TopGolf opened its north Houston location April 9 www.tulipgroupmarketing.com seating as well as lunch and dinner seven Relocation at 560 Spring Park Center Blvd. in Spring. days per week. Breakfast is offered on the 8 TechPods Technology Services has weekends. opened at 4775 W. Panther Creek Drive, www.therepublicgrille.com 16 Better Bookkeepers has relocated its Ste. 310, in the Panther Creek Village company to 25227 Grogan’s Mill Road, Cteecnhtneor.l oTgeyc hseProvdics epsr, oinvicdlueds ian vga nrieettwyo orfk i1n2 M Thaien sMtraeient ACmouerrsicea C, aoto 1k8i7n5g0 S Ic-h45o ol SWteo. o2d2l0a.n Bdse-tbtears eBdo pokrokfeeespsieorns aIln ficr. mis ath at ment Co. sdseeerts-vkuitpcoe,p sb maontahdr tPlpaChpot aonnped ra eMnpdaa citra .db Teleevtci chreenspi acainiard,n ascn acdna n NlMev.e,e dSlsipt rteoirn rpgarn,e tepeaaancr eha eansnd sy Ftturhdeinnencght fs rc ooufmi as ilInlt aesk ltiioaln l , papnrroodvf esismdseiaosl nbl aboluossk iinkne eHespsaeirnsr,gi sn saoennrvdpi rcMoefisot ntso tag mnodme deiruym Woodlands develop w28o1r-k8 1r5em-2o4t6e8ly. ,w own-ws.itteec ohrp aotd tsh.ceo smtore. d$6e5ss teor t$s1. 2Th5,e a onnde c-adna yb ceo buorosekse dra antg teh efr om caoduvinctei etso. eThnaeb cleo mclpieanntys twoo mrkask teo i nprfoorvmideed 14 Courtesy The school’s website. 281-825-4470. financial decisions. 832-299-6712. Levure will open its first French bakery in The Jana Witt has started a local operation of www.mccooking.com www.betterbookkeeperstx.com Woodlands in the Creekside Park Village Center. TapSnap Phototainment. TapSnap uses the latest technology and trends to update 13 Lone Star Family Health Center Anniversary the traditional photo booth at parties opened a satellite location at 440 Rayford and events. TapSnap uses touchscreen Road, Ste. 150, Spring, on April 28. Dr. May marks the five-year anniversary for technology and allows users to share Christina Ho and the certified family the iGo Pink Breast Cancer Charity. photos instantly through social media nurse practitioner on staff provide a variety Each year iGo Pink holds a variety of outlets and digital photo sharing formats. of health care services within the six- fundraisers, including a golf tournament Ta89t3a 2ep v-SP2eno5nas7tpt-s 7 Otp6oe1a rh2kse. o Blwnpaw awnlw kiat .ththtae atpnshs deona pasnyeptns1st0e ead8mr7 ei..t c as o vfimarislta ble pmwaacnaoectdmdie eplineactnbits-n ’orsmeor h afooertmsooatrlm tiycnh l snsi, neuperirwrcvae.binn cThocaeretsnae. t lLscy clotpiaonner seeiec l,aSd Ooste affwrBrle yGerFl scYla afamNarsme i l,y il y abepbdnrareotudtaac lsgciatnatt icelgva a aeb,n ntriconede a rrpesa.n trIi esccnveoa e anumndcrtdoaeigrnnit.ee giio y Gwan fnoo,o d mirPG slieoonunc rk Patv owilin v rbokeirens’kscigd osH emtneolet ps Better Bookkeepers has relocated its office to1 6 Courtesy better bookkeepers location in The Woodlands at 1800 Hughes Medicaid and Medicare. Now Fund provides women battling breast 25227 Grogan’s Mill Road, Ste. 220. Landing Blvd., Ste. 100, in the Hughes 832-246-8700. www.lonestarfamily.org cancer financial assistance for utilities and Landing development on Lake Woodlands. past-due rent. 936-231-8460. news or questions about The Woodlands? The Woodlands location of Post Oak Bank www.thebreastcancercharities.org email [email protected]. Northgate Two Class “A” Offi ce & Garage 164,000 SF (cid:21)(cid:26)(cid:15)(cid:24)(cid:19)(cid:19)(cid:3)(cid:14)(cid:18)(cid:16)(cid:3)(cid:54)(cid:41)(cid:3)(cid:51)(cid:72)(cid:85)(cid:3)(cid:41)(cid:79)(cid:82)(cid:82)(cid:85) (cid:43)(cid:68)(cid:85)(cid:71)(cid:92)(cid:3)(cid:55)(cid:82)(cid:79)(cid:79)(cid:3)(cid:53)(cid:71)(cid:17)(cid:3)(cid:9)(cid:3)(cid:44)(cid:23)(cid:24) (cid:49)(cid:72)(cid:68)(cid:85)(cid:3)(cid:41)(cid:88)(cid:87)(cid:88)(cid:85)(cid:72)(cid:3)(cid:42)(cid:85)(cid:68)(cid:81)(cid:71)(cid:3)(cid:51)(cid:68)(cid:85)(cid:78)(cid:90)(cid:68)(cid:92)(cid:3)(cid:68)(cid:81)(cid:71)(cid:3)(cid:40)(cid:91)(cid:91)(cid:82)(cid:81)(cid:48)(cid:82)(cid:69)(cid:76)(cid:79) 281-466-2880 • www.Foldetta.com 10 news Community Impact Newspaper • impactnews.com INSURANCE CoMparing flood insuranCe Newest Montgomery County FEMA flood $Y8E0A0R+ ModEratE-to-lo maps to go into effect in August $5,500+ w risk By Jesse Mendoza determine the ground elevation, now found in a flood zone may YEAR The Federal Emergency Man- and they basically matched the see rising insurance premiums. 1 FT ABOVE BFE $25,000+ HigH risk anfCogeorew ump nfloetronyto tiao dAnn idgsne osinsuf c erMyna nchoocaneust grrfiaoangtmeain lemirgzy ae pds flewloeiThlovl daeet xpi oWplaneiorsn.io”esdn tlcoae nt shdoesm aacreet cuah arale ngsigrdoeesun ntds chthaoel“ml Feinoed,rs i ufneorx rafa ohnmrci siep n plwseau,or artua iclcndluic ecleano rots ftht haoa uts e YEAR 1 FT BELOW BFE palroonpge rtthye ocwounnertsy ’ws flitoho pdrpolpaienrtsy uStnedpehra tnhiee fiMnoafflieztetd o mf FaEpMs, Asa id byeeatwr,”e eFnle $c1k1 s,0a0id0. and $15,000 per to purchase flood insurance, Region 6 External Affairs. Fleck said it remains to be officials said. “The main changes in The seen how the Homeowner Flood BFE: BAsE FLOOd ELEVATiOn10 FT BELOW BFE Source: FEMA na asFteuploraoarlda dtieni sgfla oissto etdrh iienn m stuhoresa tUn cc.oSem. ,p amonloidcn y WCJarcoeioenkdto,l”a RMnidvoseff rae ratenta ds aa oirdeth .a “elThro nstegr eSSaapmnri sn g I2On0bs1au4mr, awanh csiiecg hAn ePffdro eirnsditdaobe linaltiwt By i aAnr acct ko f is often the most effective way to were redrawn using the same March, will affect flood insur- Moderate-to-low risk cover unexpected damages from flood information but better ance rates going forward. Preferred-risk policy is available to homes in moderate- or low-risk flood zones. flooding, according to FEMA. topographic data.” The act reduces the recent L M The maps were finalized in Because flood insurance is not rate increases on some poli- NuAMiu residential CoMMerCial renters February following an appeals included in standard homeowner cies, prevents some future rate ANPRE $129–$414 $643–$4,807 $57 process for preliminary maps insurance policies, congress cre- increases, and implements a issued in 2008, Assistant ated the National Flood Insur- surcharge on all policyholders. WHAT’S COVERED? $$280inkk b––u$i$ld120in50g0kk $$5500inkk b––u$$ild55in00g00kk ind p$arm8opakegrety Cseaffoieduc.nt Th tAy ueE gmn. g1ai8pn.se ewri Dll agno Wintiold s aeinrnt c1ye9 o 6Pw8r.ongerrsa mfin taon pcriaolv pidreo tpercotipo-n Thiinntceor e aeacffstee acsl tst hoan artde hp paervaoelvs a icdlereersta ardeiynf u grnoadntese in contents in contents “What FEMA did to revise Floodsmart.gov estimates the to those policyholders, accord- * Standard-rated policy based on rates for properties not eligible for a preferred-risk policy the maps is they attained better average flood insurance policy ing to FEMA. topographic information for the costs about $650 per year. The law was enacted to repeal HigH-risk county,” Wilds said. “They flew The Woodlands insurance certain provisions of the Biggert- A standard-rated policy is required for properties in high-risk flood zones. Flood insurance the county and used [light detec- agent Rodney Fleck said some Waters Flood Insurance Reform rates are determined by a variety of factors, including elevation, building construction, and tion and ranging] technology to homeowners with their property Act to limit premium increases, property value. according to FEMA. Visit www.floodsMart.gov for more information. The changes could also affect insuranCe affordabilitY insuranCe affordabilitY homeowners trying to sell a know Your Zone property that is now in a desig- In the past decade, FEMA's National Flood Insurance Program has issued an estimated $200 nated flood zone, Fleck said. Flood zones are identified by FEMA and categorized based on actual flood risk. Zones billion in losses. The Biggert-Waters Flood Insurance Reform Act was enacted in 2012 in an “If someone wanted to sell are shown on FEMA’s revised floodplain maps to tell property owners which category of attempt to assist the nearly bankrupt NFIP, according to FEMA. The act was meant to phase flood risk they fall under—low, moderate or high risk. out subsidized flood insurance rates for an estimated 20 percent of property owners and their home in a flood zone area, would have risen insurance premiums by as much as 20 percent each year. they would be confronted at this Moderate-to-low risk biggert-waters aCt of 2012 point in time with significant A “moderate-to-low-risk area” is where flood risks are less but still pose a threat to • Repealed the grandfather rule that exempted properties built before the NFIP increases in their flood insur- property. It is recommended that property owners in these areas carry flood insurance. • Denied coverage to properties that flood repeatedly—known as "repetitive loss ance that a buyer would be very These areas are designated as zones B, C and X on flood maps. properties." • Set premiums to increase each year until "true flood risk" was represented much concerned [about] because HigH-risk area On March 21, President Barack Obama signed the Homeowner Flood Insurance of the cost,” Fleck said. A “high-risk area” has a 1-in-4 chance of flooding in a given 30-year period. Property Affordability Act of 2014. Although several provisions remained unchanged, this act Residents can input their owners in these areas are required to carry flood insurance, and these areas are repealed and modified several aspects of Biggert-Waters. address to an interactive Mont- designated as zones A and V on flood maps. HoMeowners flood insuranCe affordabilitY aCt of 2014 gomery County flood map on • Lowered rate increases on some policies, prevents certain future rate increases and undeterMined risk area implements a surcharge on all policyholders the county website at www.mctx. An “undetermined risk area” means a flood-hazard analysis has not been conducted. • Placed delays on premium increases org to see how the new maps will These zones are designated as Zone D on flood maps. • Set annual maximum increase for premiums affect them, officials said. For more information, visit www.fema.gov. 1 1 1 2 2 APTR TICHE IS! APTR2 TICHE IS! APTR2 TICHE IS! Only 25 Minutes from APTR TICHE IS! 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