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<br />LESSONS of RECOVERY - A REViEW of Tin 1997 COlORAdo Flood DisASTER
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<br />Flood Recovery Costs
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<br />More than a year after the disaster, the total cost of the floods have yet to be calculated. As in all
<br />disasters, good estimates of the total cost of the 1997 disaster are elusive and the actual costs may
<br />never be known. Many, if not most, losses may never be compensated due to limited insurance
<br />coverage, eligibility requirements for government disaster assistance, and the thousands of hours of
<br />uncompensated time donated to relief efforts by volunteers and many employees.
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<br />The estimates in the tables that follow have been compiled from a number of sources, including FEMA, CSU,
<br />Colorado Department of Local Affairs, Colorado Office of Emergency Management, Colorado Water
<br />Conservation Board, City of Fort Collins, Larimer County, Morgan County, Logan County, Western Insurance
<br />Information Service, and Riverside Technology, inc.
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<br />The types of relief provided by volunteer and charitable organizations are hard to measure in financial terms.
<br />The American Red Cross estimates it provided more than $700,000 in emergency services to flood victims. For
<br />other organizations, such as The Salvation Army and the church and civic groups cited in this report, good
<br />estimates of relief costs are unavailable.
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<br />The estimates are not intended to be all inclusive, Cost estimates of agricultural damage and unemployment
<br />benefits, for example, are not included. One year after the disaster, eligibility decisions were still being made
<br />regarding FEMA program assistance, so cost estimates are incomplete. On average, it takes at least two
<br />years to close out activities associated with federally-declared disasters.
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<br />Total Estimated Recovery Costs
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<br />COLORADO STATE UNIVERSITY $ 102,000,000
<br />SMALL BUSINESS ADMINISTRATION (SBA) DISASTER LOANS 10,300,000
<br />STATE OF COLORADO DISASTER EMERGENCY FUND 7,190,000
<br />FEMA PUBLIC ASSISTANCE PROGRAM 4.600,000
<br />FEMA HOUSING ASSISTANCE PROGRAMS 3,500,000
<br />FEMA HAZARD MITIGATION GRANT PROGRAM (HMGP) 1,215,000
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<br />INDIVIDUAL AND FAMILY GRANT PROGRAM (FEDERAL SHARE) 2,014,000
<br />AUTOMOBILE AND HOMEOWNERS INSURANCE 21,100,000
<br />NATIONAL FLOOD INSURANCE PROGRAM 4.500,000
<br />LOCAL GOVERNMENT SHARE OF PUBLIC ASSISTANCE/HMGP 575,000
<br />HAZARD MITIGATION PROJECTS (LOCAL-STATE FUNDED) 3,535,333
<br />HOUSING AND URBAN DEVELOPMENT (HUD) 668,569
<br />CRISIS COUNSELING (LARIMER COUNTY ONLY) .
<br /> 104,416
<br />TOTAL $161,302,318
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<br />The $4.5 million paid out of the National Flood Insurance Program includes approximately 700 individual claims.
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<br />COlORAdo OffiCE of EMERGENCY MANAGEMENT
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