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• Board Meeting Date: 9/18/2007
• Description: Flood Section - State Hazard Mitigation Plan - Flood Chapter Update - FEMA Disaster Mitigation Act of 2000
• Board Meetings - Doc Type: Memo

With respect to State owned or operated critical facilities located in flood hazard areas,
the Colorado Office of Risk Management and the Colorado DEM updated the potential
vulnerability and loss data presented in the 2004 update to the NHMP 2001 umbrella
document. State critical assets were specifically identified through the development of a
digital risk layer.

In 1994, there were 9,893 flood insurance policies. In September 2007, there were
17,788 flood insurance policies statewide with an insured value of $3,626,858,400.

B. Potential Losses Based on Estimates In Local and State Risk
Assessments

The information obtained from local emergency managers, through either the state-
sponsored surveyor local hazard mitigation plans, was supplemented with information in
the FEMA Community Information System. Communities and unincorporated areas of
counties participating in the NFIP reported on population and stmctures at risk. As
indicated in Table 4, losses associated with the flood hazard for 2006 exceeded $8.2
million. The potential loss based on the local risk assessment assumed a worst-case
scenario, in which all stmctures covered by flood insurance incurred the maximum loss.
Under this assumption, the potential loss was estimated to be approximately $3.6 billion.

The value of state assets located in the floodplain is presented in Table 6.
Approximately $122 million in assets (buildings, vehicles, contents) were identified
as being at risk. Assuming a worst-case scenario, in which all assets were assumed to
be at risk during a 100-year flood event, the total potential loss to assets becomes
$122 million. In addition, the potential losses associated with bridges that were
determined to be at risk from scour during flooding events were estimated.
Statewide, 358 bridges were determined to be scour critical with a total replacement
cost of $237 million. Table 9 presents a summary of the potential losses associated
with state critical assets at risk from a 1 OO-year flooding event.

C. Impacts on Losses from Changes in Development

Information reflecting changes in development for jurisdictions in flood hazard prone
areas was provided in previous sections to this report. There is a close correlation

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