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<br />PROBLEMS AND NEEDS <br /> <br />~conomic Overview and Impacts <br /> <br />Wiggins is a small agricultural community on Colorado's <br />eastern high plains where economic vitality is directly tied to <br />farming and ranChing and the business people .Tho serve this <br />sector. As with many agricultural communities, the business <br />growth or popUlation increase is dependent upon the activity of <br />the intermediate service area. <br /> <br />Since 1978, when the Town of Wiggin'S Flood Insurance Study <br />(FIS) was finalized and adopted by the community, growth and <br />development in the downtown area has been effectively <br />nullified. The reason for this OCCUJ:r'.nce was the adoption and <br />implementation of development regulations which went into <br />effect as part of the town's entrance into the Regular Phase of <br />the National Flood Insurance Program (NFIP). <br /> <br />Flood depths which average 3-4 feet in the town's business <br />district have made it virtually impossible to solicit new <br />business or expand existing ones. Floodproofing measures which <br />would make new development feasible are costly and in many <br />cases make business expansion infeasible. As a result. growth <br />in the community has been at a virtual standstill for over 10 <br />years. <br /> <br />Flood Risk <br /> <br />The flood risk to the town was a !:O!al one. Two past flood <br />events have proved that flooding is a real threat to the <br />community and as such, town residents have beE!n aware of t.he <br />dangerous risk that. flooding poses and resultantly. the <br />community elected to implement flood mitigation measures. The <br />most feasible measure was the construction of a flood <br />protection project which would eliminate the 100-year flood <br />risk to the communit}'. <br /> <br />-6- <br />