City of Bonita Springs

Council received the first reading of the following ordinance: an ordinance of the city of Bonita Springs, Florida, amending chapter 24 - Flood Hazard Reduction - to clarify the definition of market value as applied to existing building in special flood hazard areas; providing for conflicts of law, severability, codification and scrivener’s errors, and an effective date.

On August 3, 2022, the City Council adopted Ordinance 22-05 to clarify and update definitions and regulations as necessary to remain in the National Flood Insurance Program (NFIP) and maintain the City’s Class 5 status under NFIP’s Community Rating System (CRS). The City received written approval from both FEMA and from Florida Division of Emergency Management (FDEM) regarding Ordinance 22-05 and compliance with all applicable requirements.

During the aftermath of Hurricane Ian, differing opinions arose between the affected jurisdictions and various governmental agencies - including the Lee County Property Appraiser’s Office, Florida Division of Emergency Management, regional and state FEMA representatives, various Florida floodplain managers, etc. – regarding the calculation of market value for use in the application of FEMA’s substantial damage determinations (the 50% Rule). After in-depth discussions, the State has now issued uniform guidance for calculating market value during substantial damage determinations.

The attached ordinance amends the definition of Market Value as directed by the State.

The next step will be the second reading.