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<br />Missouri Leads the Way in Acquisition Projects <br />FEMA REGION VII ACQUISmON PROJECTS <br />(As of 7/13/95) <br /> <br />STATE <br /> <br />#Of <br />Projects <br />44 <br /> <br />Properties <br />Purchased <br /> <br />2,958 <br /> <br />Approved <br />Properties <br /> <br />5,305 <br /> <br />Withdrawn <br />or Refused <br /> <br />1,065 <br /> <br />MO <br /> <br />Percent <br />Complete <br /> <br />69.76 <br /> <br />FUNDING SOURCE <br /> <br />This included $30 million in FEMA 404 funds, $28 million in FEMA 406 funds for <br />demolition due to health and safety reasons, and $42 million in Community <br />Development Block Grant (CDBG) funds through the Department of Housing and <br />Urban Development (HUD). <br /> <br />PROJECT COSTS <br />Disaster Assistance in 5t. Charles County <br />(As of 7/14/95) <br /> <br />Floods <br /> <br />Number of <br />Applicants <br /> <br />4,277 <br />333 <br /> <br />Individual! <br />Family Grants <br />$5,818,167 <br />$11,601 <br /> <br />1993 <br />1995 <br /> <br />Disaster <br />Housing <br />$8,359,550 <br />$204,493 <br /> <br />SBA <br />Loans <br />$11,898,600 <br />$67,000 <br /> <br />1993 federal flood costs on purchased properties in St. Charles County (elirninated in <br />the future through the buyout) <br /> <br />NF1P Structural claims <br />NF1P Contents claims <br />Emergency Repair (EMR) <br />Ind./Fam. Grant (IFG) <br />Mobile home NF1P claims/ disaster aid (est.@60%occupancy) <br />SBA Loans <br />NF1P loss processing costs (est.) <br />Total federal '93 flood costs on St. Charles Co. buyout properties <br /> <br />$10,312,733 <br />$2,987,797 <br />$836,391 <br />$419,797 <br />$5,169,872 <br />$3,804,390 <br />$399,000 <br />$23,929,980 <br /> <br />5t. Charles County Buyout Program Facts and Figures <br /> <br />Total fair market value $20,525,624 <br />Actual purchase price $10,146,810 <br />Administrative costs $3,554,000 <br />Duplication of genefits (SBA loans, NF1P proceeds, <br />disaster benefits) subtracted from the sale price $10,538,437 <br />Cost per property - 1374 (includes all mobile home lots) $9,971 <br />Cost per Unit purchased (640) $21,408 <br /> <br />Note: Floodwater in 1995 affected virtually all of the same 1,374 properties bought out after the 1993 <br />flood albeit to a lesser height and a shorter period of time. Were it nnt for the buyout program, it is <br />reasonable to assume a much larger number of applicants would have been requesting disaster assistance <br />and submitting flood insuraru:e claims, leaving the structures at risk for the next flood. In fiscal yems <br />1997 and 1993, the federal government spent $64 biIlinn in dired disaster relief and $55 billion indirectly <br />through low-cost loans. In miditinn, Omgress spent nearly $3 billion to caver unmet costs in the National <br />Flood Insurance Program (NFIP). <br /> <br />For copies ot the comprehensive report titled "Out of Harm's way; Missouri's Flood Buyout Program" <br />please contact the Missouri State Emergency Management Agency (SEMA) at 573-526-9141 <br />