At issue is the cost of rebuilding properties flood after flood. FEMA's National Flood Insurance Program, which was almost $18 billion in debt before Sandy, has paid "a disproportionate share" of claims to properties that have flooded more than once, according to a 2011 report by the Congressional Research Service. Of the properties for which homeowners filed claims, less than 1 percent received 30 percent of FEMA's payments.
"The projections are the ocean will rise another two to three feet over the next century. And it's going to make it tougher and tougher to protect anything you rebuild," said Larry Larson, senior policy adviser at the Association of State Floodplain Managers, which represents local government planners.
"You have to look at this from an economic standpoint. Don't just blindly rebuild in places where you were destroyed," he said.
On the Jersey Shore, where closely packed homes and condos house millions of tourists, that will likely be a tough sell.
Towns are already in a dash to restore their beachfronts before Memorial Day. In Ocean County, the mayor of Seaside Heights said last week that a washed-out amusement pier's downed roller coaster - famously photographed sticking out of the ocean - might make for a good tourist attraction next year.
In Long Beach Township, where 62 properties have accounted for 190 federal flood insurance claims since 1978, Mayor Joe Mancini said the high value of oceanfront property made it unlikely any parcels would be abandoned.
"I don't think FEMA wants to pay a half-million dollars for a 40-foot lot," he said. "I'm not opposed to it; it's just never going to happen."
http://www.philly.com/philly/news/local ... Shore.html
Keep S2K policies in mind when discussing this and focus on the practical and economic aspects.
Personally, I think if you choose to live in those areas, you get one, maybe two payouts from the Flood Insurance program and/or FEMA. After that, nothing. If the property is damaged it would not be eligible for any state or federal relief funds at all. This would apply to the parcel of land in perpetuity, regardless of ownership.
Possibly even a change to zoning to prohibit rebuilding on severely damaged parcels. No buyout. You can still own it and use it for temporary purposes like an RV, but no permanent structures could be built. Yes, I'm aware that would severely de-value those properties over time, but those are the risks you would need to take.
The article repeatedly mentions 'once in a lifetime' or 'once in 100 years', but Irene and Sandy make it twice in two years for some areas. Those areas could get hit just as hard or harder next year, or maybe not for the next 50 years. Florida was hit 4 times in one year, but nothing significant since.
