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<br />forecasts that are necessary for the base year, and for lO-year <br /> <br />increments up to 50 years beyond the base year. <br /> <br />There are five steps in the process of analyzing future damages. <br /> <br /> <br />These include: 1) establishing the economic and demographic data base; 2) <br /> <br /> <br />projecting land use; 3) establishing new economic inventory; 4) estimating <br /> <br /> <br />new elevation-frequency relationships; and,S) calculating equivalent <br /> <br /> <br />annual damages. Each of these stages are described in detail below. <br /> <br />CONDITIONS FOR ASSESSMENT <br /> <br />Any analysis of future conditions for with- or without-project <br /> <br />conditions are subject to the following conditions: <br /> <br />1) All communities should be assumed to belong to the National Flood <br /> <br />Insurance Program and in compliance with the following rules: a) no new <br /> <br />development in the floodway, which is considered to-be the natural storage <br /> <br />area of the stream; b) the first floor of all new residential development <br />must be above the one percent flood elevation; c) all new non-residential <br /> <br />development must be above, or effectively floodproofed to, the one percent <br /> <br />flood elevation; and, d) no major reconstruction or additions (equaling <br /> <br />50% or more of the structure value) to an existing property can occur <br /> <br />without complying with rules band c above. <br /> <br /> <br />2) Compliance with E.O. 11988 assumes that Federal agencies will not <br /> <br /> <br />take actions that will promote development in the lOO-year floodplain. <br /> <br /> <br />3) Decision makers are presumed to act rationally by assuming the <br /> <br />most likely conditions that would occur under each measure. Rationality <br />is based on the premise that individuals will continually act to maximize <br /> <br />their net income. Irrational use, such as continued occupancy in <br /> <br />VI-2 <br />