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FLOOD05331
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Last modified
1/25/2010 6:48:55 PM
Creation date
10/5/2006 1:26:45 AM
Metadata
Fields
Template:
Floodplain Documents
County
Statewide
Basin
Statewide
Title
Hazard Mitigation in North Carolina
Date
1/1/1995
Prepared For
State of North Carolina
Prepared By
North Carolina Emergency Mmanagement Division
Floodplain - Doc Type
Flood Mitigation/Flood Warning/Watershed Restoration
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<br /> <br />THE LOSSES AVOIDED THROUGH <br /> <br />The extent of flooding was greater than Hurricane Fran, notably on the south <br />side of town, where more than 400 homes sustained major flood damages, <br /> <br />ACQUISITION OF FLOOD PRONE <br /> <br /> <br />PROPERTIES IN KINSTON IS <br /> <br /> <br />ESTIMATED TO BE OVER $6 MILLION, <br /> <br />OVER $1.1 MILLION IN LOSSES <br /> <br />Business losses were higher in Hurricane Floyd. The Central Business <br />District and outlying business areas were submerged under several feet of <br />water, causing damages to an estimated 200 businesses, Recovery efforts <br />for homes and businesses were slowed by damages to infrastructure - <br />including roads, bridges and the flooding of the town's two wastewater <br />treatment plants. <br /> <br />ASSOCIATED WITH DAMAGED <br /> <br />CONTENTS WERE AVOIDED DUE TO <br /> <br />Approximately 100 of the houses in the three-phase acquisition program for <br />the City of Kinston had been acquired and vacated prior to Hurricane Floyd, <br />With the flooding that occurred, over 95 percent of the acquired homes <br />would have been inundated, with over 75 percent of the acquired homes <br />being substantially damaged (defined as having five feet or more of water in the homes), In some houses, <br />the flooding would have been over 10 feet high. As ,vith Washington and Belhaven, the relatively low property <br />values of the Kinston area would have led to the demolition and replacemenl of the substantially damaged <br />homes, contributing to an existing housing shortage. <br /> <br />THE BUY-OUT PROGRAM. <br /> <br />Table 2.3 <br /> <br />City of Kinston <br />Losses Avoided in Hurricane Floyd <br /> <br />As reflected in Table 2,3, the losses avoided through acquisition of flood prone properties in Kinston is <br />estimated to be over $6 million, The reduction in the repair and replacement cost of flooded homes <br />accounted for almost one-half of the avoided loss. The building repair/replacement cost estimates were <br />based on the average construction costs of the region, and damage formulas developed by FEr.IA, For <br />Kinston, the average construction cost is assumed to be $45 per square foot. <br /> <br /> <br />Over $ 1.1 million in losses associated witl! damaged contents were avoided due to the buy-out progJ"J/ll, <br />Of the losses that were avoided, approximately 25 percent of the savings are attributed to the reduction in <br />"displacement costs" - defined as the costs that are allocated to households to support them while their <br />homes are being repaired. Average displacemenl expenses were l'Stimated at $1,2;0 per month per <br />household. <br /> <br />The progJ"J/ll costs related to the acquisition and relocation of the 100 homes in the city of Kinston was <br />approximately $2.1 million, The avoided losses from this single event were substantially higher than the total <br />program COSl to date. Of the ISO houses lhat remain to be acqoired in Kinston as part of the three-phase <br />buyout program, 99 were damaged in the September floods, with 84 of these classified as substantially <br />damaged. HI <br /> <br />28 <br />
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