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<br />
<br /> . Table 2.4
<br />Area # Program Losses Avoided
<br /> Cost Building Contents Displacement Total
<br />Elizabeth Drive 15 $1,019,000 $1,087,431 $379,203 $225,3B3 $1,692,017
<br />Ann Marie Drive 15 $1,278,400 $623,480 $355,004 $210,175 $1,1 BB,659
<br />Total 30 $2,297,400 $1,710,911 $734,207 $435,558 $2,880,676
<br />
<br />Losses Avoided in 50-Year Flood
<br />Town of Boone
<br />
<br />Projections of Losses Avoided in a tOO-Year Flood
<br />
<br />The residential area of Ano Marie and Elizabeth Drive has not been flooded since the acquisition and
<br />relocation of the 30 houses, However, mosl of these homes were in an area that is expected to be flooded
<br />every 25 years, If the Tow11 of Boone was exposed to its OWll "Hurricane Floyd" - a I OO-year storm - the 30
<br />homes would have been inundated with approximately 7-i 0 feet of floodwaters, Flooding al this level would
<br />substantially damage the homes. Using an analysis similar to the one utilized for the city of Kinston and
<br />Beaufort County, it is estimaled that a lOO-year flood in Boone would cause losses of over $3,2 million,
<br />Approximately $1,8 million would be used to repair and/or replace the danlaged homes, with the remaining
<br />funds earmarked for tile replacement of danlaged contents and to cover temporary living expenses while tile
<br />homes are under repair,
<br />
<br />SUMMARY
<br />
<br />The analysis of losses avoided in ((jnston, Belhaven, Washington. and Boone as a direct result of two mitiga-
<br />tion technil!UeS - acquisitions/relocation and elevation-in place - makes a compelling case for the role and
<br />value of mitigation as an integral feature of a long-tenn strategy to promote sustainable communities. In the
<br />communities that were flooded in Hurricane Floyd - Kinston, Bclhaven and Washington - the savings arc
<br />estimated to be approximately $9 million. WllCn a similar analysis is applied to the Town of Boone for a
<br />hypothetical flood event (comparable to the intensity of Hurricane Floyd), the losses avoided arc also
<br />significant, estimated to be over $3 million,
<br />
<br />The sobering news, however, is that a substantial number of homes in North
<br />Carolina are vulnerable to flooding and other natural hazards, Many
<br />communities, particularly in the eastern part of the slate, were settied on
<br />the banks of rivers and waterways, the source of trade and commerce and
<br />community activity, Not surprisingly, many homes and businesses are
<br />located in or near floodplains, Today, however, the economic livelihood of
<br />most riverine communities in North Carolina are not as closely linked to
<br />lhe waterways as in the past. This trend allows communities to relocale
<br />businesses, homes, and related infrastructure away from known flood
<br />hazard areas,
<br />
<br />IN THE COMMUNITIES THAT WERE
<br />
<br />FLOODED IN HURRICANE FLOYD
<br />
<br />KINSTON, BELHAVEN AND
<br />
<br />WASHINGTON - THE SAVINGS
<br />
<br />ARE ESTIMATED TO BE
<br />APPROXIMATELY $9 MILLION.
<br />
<br />In the final analysis, successful effort, to promote safer, flood-resistant,
<br />sustainable housing in North Carolina must be part of a long-term strJ!egy,
<br />Progress will be achieved in increments, FollOlving Hurricane Floyd, it is anticipated that as many as 7,000
<br />flood prone homes will be acquired and demolished or relocated, in the end, the key to long-term progress
<br />in achieving sustainable housing in North Carolina is to not add to the problem by building houses in
<br />floodplains and other bazard prone areas.
<br />
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