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<br />0018J7 <br /> <br />The majority of the damages would occur to private and publ ic <br />properties once the capacity of the current levee system was exceeded, <br />at about the 25-year flood event. Figure 2 shows the damage curve of <br />estimated flood losses for each flood frequency. <br /> <br />Also shown on Figure 2 and Table 4 are the damage curve and annual <br />risk to the community with an improved levee system, capable of <br />passing the 100-year flood through the community, as well as part of <br />the 500-year fl ood. Est i mated damages under the improved condi ti on <br />have not been studied but rather have been approximated as being <br />equivalent to the damages caused by one-half the overbank flood depths <br />of the 50-year event. The annual fl ood ri sk after improvements is <br />approximately $63,315. <br /> <br />Based upon these assumptions, the improved levee system provides a <br />reduction in the annual flood risk and thus a benefit to the community <br />of approximately $984,385. Also, with the improvements properly <br />designed and constructed, to meet the requi rements of the FEMA, the <br />100-year floodplain designation would be removed from the community, <br />permitting new development to occur., <br /> <br />~ <br /> <br />f. <br /> <br />-15- <br />