Resolution No. 4814 - Laserfiche WebLink

Home Browse Search

events causing the flood loss claims, the repetitive loss list is not mathematically rigorous. For example, some properties on the list may have simply been unlucky and have experienced two flood events with Iow probabilities (e.g., 100-year or greater events) within a short time period. Thus, the properties on the repetitive loss list may be at relatively high flood risk or they may not. Correspondingly, there are almost certainly other properties within the Eugene/Springfield Metro Area at equal or higher levels of flood risk that are not on the FEMA repetitive loss list. These properties may not have flood insurance or simply may have been lucky over the relatively short reporting period for the NFIP repetitive loss list (data since 1978). Despite these limitations of FEMA's repetitive loss list, properties within the Eugene/Springfield Metro Area on the repetitive loss list may be good targets of opportunity for flood mitigation. Most of FEMA's mitigation programs list repetitive loss properties as high priorities for mitigation and thus obtaining FEMA funding for properties on the repetitive loss list may be more likely than for properties not on the list. 6,7 Estimating Flood Losses and Flood Risk For most residential structures and many similar commercial and public structures, the likely amount of building damage from floods of any given depth can be estimated approximately using FEMA depth-damage tables. These depth damage tables are derived from Federal Insurance Administration flood insurance claims data for several million properties and thus represent typical damage levels for typical structures. Although actual damages will vary somewhat from structure to structure, depending also on flood conditions such as duration, velocity, and degree of contamination, these typical values represent a good starting point to estimate flood damages for typical structures and thus to help quantify the level of flood risk. Current FEMA depth- damage data for typical structures are given in the Appendix - Example Mitigation Projects. When estimating flood losses or evaluating flood risk (for a structure or a whole community) it is very important to recognize that the economic impact of floods includes not only damages to buildings and contents but other economic impacts as well, including: 1. damages to yards, vehicles, and outbuildings (not in depth damage data above), 2. displacement costs for temporary quarters while repairs are made, 3. loss of business income, 4. loss of public services. In some cases, these economic impacts of floods can be a significant fraction of building and contents damages, or even larger, especially for critical facilities or critical infrastructure. FEMA's publication What is a Benefit? Draft Guidance for Benefit-Cost Analysis provides an excellent primer, along with typical values and simple economic methods, to place monetary values on the loss of function of buildings, critical facilities, roads and bridges, and utility systems. Public Review Draft: August 6, 2004 6-14