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<br />001782 <br /> <br />despite an estimated $14 billion spent nationally by the U. S. Army Corps <br /> <br /> <br />of Engineers since 1936 for structural flood control projects, losses <br /> <br /> <br />have continued to rise (3). As a result, the emphasis in flood hazards <br /> <br />management has shifted to the risk reduction approach. <br /> <br />The risk reduction approach requires a much greater involvement at <br /> <br />the state and local levels to successfully implement land management <br /> <br />techniques, in conjunction with the traditional structural and emergency <br /> <br />measures. This involvement entails added financial burdens at the state <br /> <br />and local levels. Furthermore, as the Federal Government cuts back its <br /> <br />funding and emergency measures (4), even greater burdens will fall on <br /> <br />state and local treasuries. Given the current fiscal problems at all <br /> <br />government levels, this increasing burden becomes a critical policy issue <br /> <br />requiring careful consideration. <br /> <br />To enable state and local governing bodies to make informed policy <br /> <br />decisions and to plan for the future, adequate information resources must <br /> <br />be available. In ,the case of flood hazards, a vast quantity of data and <br /> <br />information hs been produced, but very little of this resource is in a <br /> <br />form suitable for making policy or planning decisions (2,4). It is the <br /> <br />objective of the research project proposed herein to provide this neces- <br /> <br />sary information and to suggest some potential policy directions. It is <br /> <br />expected that the final report will help to answer two key policy ques- <br /> <br /> <br />tions: 1) how much funding should be provided for floodplain management, <br /> <br /> <br />and 2) how should these funds be allocated? <br /> <br />The proposed research project would consist of the following <br /> <br />six-step procedure: <br /> <br />-2- <br />