Why it matters: With its history of drought punctuated by deluges, and its topography of creeks and hills, Austin has long been in the heart of "Flash Flood Alley."
Driving the news: A 25% discount will be available for most flood insurance policies in Austin issued or renewed on or after Oct. 1 of this year, after the federal government recently downgraded the region's flood risk.
The average annual flood insurance premium in Austin is $670, according to city officials.
What they're saying: "This savings is a tangible result of the flood mitigation activities your community implements to protect lives and reduce property damage," William Lesser, an official at the Federal Insurance and Mitigation Administration, wrote in a letter to Austin's city manager.
Local flood mitigation efforts range from building culverts to control the flow of water to acquiring and removing hundreds of buildings in the floodplain.
By the numbers: There are approximately 8,000 flood insurance policies currently in effect in Austin, providing coverage for $1.95 billion in potential losses, according to the city.
Good to know: Flooding is not covered by homeowners or renters insurance.
