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<br />
<br />Photograph by Sam Leone, photographer, St. Louis Post-Dispatch.
<br />
<br />Instead, by spending $13.7
<br />million in 404/CDBG Hazard
<br />Mitigation Grant Program funds to
<br />buyout 1,374 properties in St.
<br />Charles County, FEMA has removed
<br />these repetitive loss properties from
<br />hann's way and from the federal
<br />disaster fund. No additional disaster
<br />assistance will be granted to these
<br />1,374 properties, no claims will be
<br />paid by the National Flood Insur.
<br />ance Program on the buyout proper-
<br />ties and the local community gains
<br />open space riveriands in perpetuity.
<br />
<br />A Closer Look-
<br />81. Charles County
<br />"These were the places where,
<br />year after year, we saw the highest
<br />incidence of repetitive loss," says St.
<br />Charles County Planning Director,
<br />Steve Lauer.
<br />Indeed, of the 1,374 properties
<br />bought out since 1993, Lauer
<br />estimates that "least 95 percent"
<br />would have flooded again in the
<br />1995 disaster.
<br />"If you look at it over the long-
<br />term, there's a real cost savings in
<br />buying out these places," says
<br />Lauer. "And, there's the peace of
<br />mind it gives people. They're reaUy
<br />glad to be out."
<br />
<br />T.
<br />
<br />Flood
<br />
<br />Disaster Assistance in St. Charles Connty
<br />(as of) 7/14/95
<br />Disaster Individual!
<br />Housing Family Grants
<br />$8,359,550 $5,818,167
<br />$204,493 $11,601
<br />
<br />1993
<br />1995
<br />
<br />Number of
<br />applicants
<br />4,277
<br />333
<br />
<br />SBA
<br />Loans
<br />$11,898,600
<br />$67,000
<br />
<br />1993 federal flood costs on purchased properties in St. Charles Count)
<br />(eliminated in the future through the buyout)
<br />NFIP Structural claims $10,312,733
<br />NFIP Contents claims $2,987,797
<br />Emergency Repair (EMR) $836,391
<br />Ind./Fam. Grant (IFG) $419,797
<br />Mobile home NFIP claims/disaster
<br />aid (est.@ 60% occupancy)
<br />SBA Loans
<br />NFIP loss processing costs (est.)
<br />Total federal '93 flood costs on
<br />St. Charles Co. buyout properties $23,929,980
<br />St. Charles County Buyout Program Facts and Figures
<br />Total fair market value $20,525,624
<br />Actual purchase price $10,146,810
<br />Administrative costs $3,554,000
<br />Duplication of Benefits (SBA loans, NFIP
<br />proceeds, disaster benefits) subtracted
<br />from the sale price
<br />Cost per property. 1374
<br />(includes all mobile home lots) $9,971
<br />Cost per Unit purchased (640) $21,408
<br />Note: Floodwater in 1995 affected virtually all of the same 1,374 properties
<br />bought out after the 1993 flood albeit to a lesser height and a shorter period of
<br />time. Were it not for the buyout program, it is reasonable to assume a much
<br />larger number of applicants would have been requesting disaster assistance and
<br />submitting flood insurance claims, leaving the structures at risk for the next flood.
<br />
<br />$5,169,872
<br />$3,804,390
<br />$399,000
<br />
<br />$10,538,437
<br />
<br />"The 1993 buyout process was
<br />exceptionally successful in reducing
<br />the financial impact of the 1995
<br />flood. 1 hope that we will be able to
<br />continue the buyout process and
<br />help to reduce the impact of future
<br />floods. ..
<br />
<br />Carl Bearden
<br />Chairman, St, Charles County
<br />Council
<br />
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