![]() In 1990, when the CBRA maps were drawn for Bay County, an “otherwise protected area” map was created to include St. “Of course I’d be happy if it happened,” Albano said. He was pleased to hear about Dunn’s legislation on the verge of passing. ![]() They also have said being included in the coastal map has hurt property values and made it difficult, if not impossible, to get loans or refinance.įor example, Sal Albano, a Martinique resident, said previously the bank financing his home added private flood insurance onto his mortgage payment, and the payment doubled to $3,900 a month. Andrews State Park but is forcing them to pay astronomical flood insurance rates, if they can get insurance at all. Panama City Beach residents say the “error” that put their communities in the map was supposed to cover only St. If these houses were uninsurable they’d have no resale value at all, so these 198 homeowners would have been literally left with homes that were worth nothing.” “What (the bill) does is it removes 198 homes from the coastal barrier system, which means they can receive a number of federal benefits, including access to federal flood insurance, disaster recovery and federally backed mortgages. “I think we’ve finally got this thing surrounded and nailed down,” he said. Fish and Wildlife service, who all spoke in favor of passing this.”ĭunn said the bill is “a correction to a mistake that was made in the Fish and Wildlife mapping.” We had people on all sides of the issue, including the Audubon Society, as well as the U.S. “We had a very favorable hearing at the Natural Resources Committee. “I think there is an excellent chance,” Dunn said. 2947, the “Strengthening Coastal Communities Act,” which would take the communities out of the protection area, allowing homeowners to get the much more reasonably priced federal flood insurance.Īfter a hearing last week in Washington before the House Natural Resources Committee on the bill, during which Bay County Commissioner Philip “Griff” Griffitts testified, Dunn said he’s confident the bill will pass. The map is meant to discourage development of hurricane prone, biologically rich coastal barriers by restricting federal expenditures that encourage development, but many have felt the inclusion of several already developed communities was a “mistake.”ĭunn has filed a bill, H.R. ![]() Since 1990, residents of the waterfront communities Finisterre, Martinique, Bonefish Point, Alligator Point, and the RV Park Venture Out in Panama City Beach have been unable to get federal flood insurance because they were included in the Coastal Barrier Resources Act map. The ultimate responsibility for the management of the Association, including strategic, political, and financial development, rests with the Board of Directors, the duly elected representatives of the owners.PANAMA CITY BEACH - A bill filed by Congressman Neal Dunn seeks to grant relief to communities on the beach whose residents have been forced to pay as much as $50,000 a year for private flood insurance after being included on a federal coastal map. Board members are elected each year at the annual meeting in August to replace those whose terms have expired. The 735 owners elect a nine-member Board of Directors to act on their behalf. The Association operates as a Condominium Association. are owned in common by the site owners and make up the Venture Out at Panama City Beach Owner’s Association. The common elements, i.e., streets, recreational amenities, office and clubhouse buildings, tennis courts, swimming pools, etc. ![]() The environment of the community is, by design, an extension of the peaceful ambience that characterizes Panama City Beach – an environment dedicated to the leisurely enjoyment of social and recreational interaction among friends.Įach of the 735 individual sites is privately owned with fee simple title just as home sites are normally owned in a community. ![]() We are proud of the Venture Out at Panama City Beach Owner’s Association and concur with those owners and visitors who believe it to be an amazing place to be an owner or guest. The Board of Directors of Venture Out would like to welcome you to our unique community. ![]()
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