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<br />CASE STUDY: A Balance Sheet <br />The Privacy Act prevents disclosure of financial data for individual <br />participants in the buyout program. The following example is a fictional- <br />ized snapshot using data from buyout files: <br /> <br />Jerry Smith and his wife, Marie, lived in Arnold, Mo. for the past 22 <br />years and have seen their share of flooding along the Meramec River during <br />that time. They had rebuilt after the devastation of the 1993 flood. When <br />their home flooded yet again in 1995, they decided that it was time to get <br />out. Mr. Smith's health was failing and the emotional stress and physical <br />demands were taking their toll. <br />The pre-flood value of the Smith's home, which was debt-free, plus <br />several adjoining lots was appraised at $35,000. After the 1993 and 1995 <br />floods, the Smith's received: flood insurance proceeds on claims; an Emer- <br />gency Minimal Repair (EMR) grant and Individual and Family (IFG) grant. <br />The Smith's were credited for over $23,000 in 1993 post-flood repairs for <br />which they had receipts. They also qualified for a moving allowance as well <br />as a special relocation program for flood survivors through the Missouri <br />Housing Development Corporation (MHDC). <br />This aging couple fortunately was able to locate three acres in a surround- <br />ing rural area where they put a double-wide mobile home. They're grateful <br />to be high and dry now. <br />A synopsis of their buyout case is shown below: <br />Smith home pre-flood market value <br />Pre-flood value of adjoining lots <br />Total value <br /> <br />$33,500 <br />+$1,500 <br />$35,000 <br /> <br />Duplication of Benefits (DaB) <br />'931'95 NFIP claims <br />EMR grant <br />IFG grant <br />Total Benefits offered <br />Minus credits for' 93 repairs <br />Balance due at closing <br />Moving allowance <br />MHDC replacement housing grant <br />Total available for replacement housing <br /> <br />$31,136 <br />$10,255 <br />+$6,166 <br />$47,557 <br />-$23,098 <br />$24,459 <br />$625 <br />$11,839 <br />$36,923 <br /> <br />IX. For the Good of the People <br /> <br />"[ don't have to worry about it when it rains out there. [can look out and <br />say, 'Rain, water my grass for me. '" <br /> <br />Mental health workers can attest <br />to the stress caused by an extended <br />disaster such as the flood of '93. <br />While an earthquake or tornado <br />may be as severe, it's quickly <br />over and the recovery begins. <br />The '93-'94 floods lasted as long <br />as eight months in some commu- <br /> <br />.Joe Moore, Arnold, Mo. <br />Participant in buyout program <br /> <br />nities. Some residents had just <br />rebuilt from a serious spring <br />flood before the "real" flood <br />arrived in early August. Counsel- <br />ors liken the event to a siege of <br />war with more victims taken daily <br />as the water rose. <br />When people returned home to <br /> <br />their communities, they knew it had <br />been a battle site. Many visitors <br />who came to help with clean-up <br />were overwhelmed and described <br />the neighborhoods as "war zones". <br />The buy-out program offered two <br />types of relief in this regard, Those <br />who participated in the buyout saw <br />their lives in a new light. They <br />could put behind them the disasters <br />and begin anew in a community free <br />of flood risk. <br />Those who remained were elated <br />to see the aftereffects of the flood <br />devastation cleaned up as a result of <br />the buyout program. The demolition <br />phase signaled an end to the health <br />and safety hazards caused by <br />derelict buildings. The abandoned <br />homes had become magnets for <br />debris collection and crime. And, as <br />much as they were warned off, the <br />buildings were a serious safety <br />concern for neighborhood parents <br />with children. <br />For communities, the buyout <br />brought an opportunity to eliminate <br />substandard housing which had been <br />damaged (repeatedly, in many <br />cases). <br />Once the flood waters from the <br />Flood of '95 recede, they will leave <br />behind psychological problems: <br />anger, denial, sadness. <br />But conversations with flood <br />survivors and mental health workers <br />suggest that the psychological <br />impact will be somewhat different <br />than in 1993 when 24,000 flood <br />victims in Missouri and llIinois <br />sought help from mental health <br />agencies. <br /> <br />For one thing, government buyouts and <br />voluntary moves mean far fewer people <br />have been affected. In 1993, 10,000 <br />people were roustedfrom their homes in <br />St. CMrles County alone. So far this <br />year, the Red Cross estimates tMt only <br />1,300 families Mve been affected <br />directly. About Mlfthose Mve left their <br />homes. <br /> <br />-St. Louis Post,Dispatch <br />May 29, 1995 <br />