As you can see from the video in the news article below – Miami / Miami Beach received a decent rainfall and look at massive flooding. Imagine if this was a 500 or 1,000 year rain event? Or if this same rainfall came in with even a small storm surge. This would easily amount to billions in damage.
Our National thinking about flooding must change drastically.
Community Mitigation projects must be discussed,planned and completed in a timely fashion.
It is a common fact that mitigation dollars save at least $5 for every mitigation dollar spent, and in some cases range as high as $40. What investor wouldn’t invest his capital is those returns? Our Government has not.
Investing in mitigation projects will lower exorbitantly priced flood insurance premiums further saving the government tens of billions from “subsidizing” flood insurance premiums and also save billions because FEMA/HUD won’t have to bail out communities by rebuilding infrastructure and grants to rebuild homes.
Here is how Superstorm Sandy Aid was allocated;
Approximately 8-9 Billion was paid out to flood policy holders. Some came from NFIP, some came from the Treasury.
The Aid Package was over 60 Billion Dollars.
This does not make sense. If that 51 Billion dollar difference was spent pre-mitigation U.S. Taxpayers would have reaped at least 250 Billion in future flood storm savings.
Lastly these mitigation projects need to move from concept to funding to completion in years. It takes decades to get a project even through preliminary stages. In SE Louisiana much of the flooding could have easily been mitigated, according to Congressman Graves, if the Comite River Diversion project had been completed. This project has been in the “works” , studies, funding collected for the past 30 years or more!!!!!
Washington, DC must move aggressively on Flooding, Disaster Management and NFIP reform.Like this article? Chip in $5