Laserfiche WebLink
<br />'\ <br /> <br />) <br /> <br />) <br /> <br />INDUSTRIAL PROPERTY <br /> <br /> <br />Industrial property includes the facilities for extracting, <br /> <br /> <br />producing, manufacturing, and processing of commodities, where labor on <br /> <br /> <br />and working of materials creates new products and new wealth. Direct <br /> <br /> <br />physical flood damages to industrial property include the net physical <br /> <br /> <br />losses of economic value to land, buildings, machinery equipment, <br /> <br /> <br />materials, supplies, and other items used in the industry. Direct <br /> <br /> <br />physical damages to industrial property include all net losses from <br /> <br /> <br />deterioration or spoilage of raw material, processing material, or <br /> <br /> <br />completed goods. In general, the magnitude of industrial activity, with <br /> <br /> <br />respect to other values in a flood area, and the generally unique nature <br /> <br /> <br />and features of each industrial enterprise, requires that separate and <br /> <br /> <br />specific appraisals be made for each industrial plant or property. <br /> <br /> <br />Sampling procedures and comparisons with other similar plants cannot be <br /> <br /> <br />relied upon to give an accurate basis for evaluation of flood control <br /> <br />projects, and may be used only when similar small industries constitute a <br /> <br />representative group comparable with sample conditions and do not make up <br /> <br />a critical portion of the total damage estimate. The specialized nature <br /> <br />of each industry and its operations ideally requires both the cooperation <br /> <br />and assistance of the industry itself in appraising potential flood <br /> <br />damages, and an impartial and independent appraisal and review by the <br /> <br />Corps of Engineers. Where specialists familiar with major types of <br />industrial property involved in a study are not available in the Corps, <br />reporting officers should obtain consultative service by independent, <br /> <br /> <br />qualified experts in appraising industrial damage. These consultants <br /> <br /> <br />should be familiar with the principles and criteria of project formulation <br /> <br />V-43 <br />