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Memo to City Council <br /> <br />Page 2 <br /> <br />to enforce the codes. This rating would be a benefit to our commercial and <br />industrial structures within the city in regards to insurance premiums. The <br />percentages to what the differences will be is unknown at this time. However, <br />structures built since this new rating should benefit from a lower insurance <br />premium. Existing structures prior to the ISO rating will probably not see any <br />change in their premiums. Because Minnesota has very minimal catastrophic <br />events compare to California or Florida, we will not see the large percentage <br />decrease in premiums as other states. <br /> <br />CONCLUSION <br /> <br />This ISO rating will be completed again in 2004 for the City of Elk River. I <br />apologize for not getting this information to you sooner; however, I was <br />negotiating with the representative in regards to our rating. There were areas <br />I felt that we should have received a higher percentage of that rating. I am <br />hopeful and will strive to achieve a classification of a three at our next ISO <br />review to assist all new commercial and industrial projects to lessen their <br />premium rates through code enforcement. <br /> <br /> <br />