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<br />B.3. Flood Loss Potentisl <br /> <br />Evaluating flood loss potential is an important step in determining the need <br /> <br />for a local flood warning system. Flood loss potential, as used here, is the <br /> <br />potential for loss of life and property damage from the occurrence of various <br /> <br />magnitudes of floods. Evaluating flood loss potential consists of assessing <br /> <br />the resident population and damageable property located on the flood plain <br /> <br />that would be directly affected by flooding. Many communities have <br />established stage-damage charts that show the relationship between river stage <br /> <br />and flood damages (see Figure 5). These charts must be kept up to date to <br /> <br />reflect changes in urban development. The relationship of river stage to <br /> <br />inundation area is important in determining flood loss potential. Community <br /> <br />flood studies, such as those developed for flood insurance, provide profiles <br />and maps that reveal the magnitude of flooding expected and permit the <br /> <br />identification of critical public services that are vulnerable to flooding. <br /> <br />. <br /> <br />. <br /> <br />A number of questions must be answered when evaluating flood loss potential. <br /> <br />Is there a potential for loss of life associated with floods? What structures <br /> <br /> <br />are located within the flood plain? What are the annual flood damages? What <br /> <br /> <br />is the potential flood damage for a particularly severe flood such as the 1- <br /> <br /> <br />percent-chance flood? Where are the evacuation routes in relation to the area <br /> <br />of inundation? <br /> <br />p <br /> <br />In many instances, data are not available to answer all of these questions, <br /> <br />but the more questions that can be answered, the more certainty there will be <br /> <br />determining both the need for a local warning system and the cost effective- <br /> <br />ness of a particular warning system. Cost effectiveness is calculated by <br /> <br />16 <br />