EDMG498 Flood Buyout Program wk 2 DQ

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Business Finance

Description

Read the exemplary practice noted on page 29 in Partnerships In Preparedness - A Compendium of Exemplary Practices in Emergency Management Volume IV entitled "Flood Buyout Program" and the flyer entitled Mapping the 100-Year Flood Plain Is Not the End Of The Story, following the general guidelines given for Forums, post your response to Forum Two on what approach would be needed to put these programs into effect in your area. In addition, comment on what resistance you might run into in implementing them and how you would plan to overcome the resistance

Please use Link ----- Partnerships In Preparedness – A Compendium of Exemplary Practices in Emergency Management Volume IV. FEMA. January 2000. Available on line at http://www.fema.gov/emergency/managers/partnrprep....

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Explanation & Answer

Attached.

Running head: FLOOD BUYOUT PROGRAM

Flood Buyout Program
Institution Affiliation
Date

1

FLOOD BUYOUT PROGRAM

2

Approach needed to be put programs into effect
For these buyout programs to be put into effect in our area, an approach would be needed.
The first approach is to ensure that the properties being purchased are cost beneficial. This means
that for it to be termed cost beneficial, the cost of purchasing and demolishing the property should
be less than the cost incurred when future floods destroy the property. Another approach is that
the properties should have flood insurance policy so that they meet particular types of FEMA
grants such as Flood Mitigation Assistance (FMA) (Simms, 2016). This will make the properties
eligible for the buyout program. Another approach for the buyout program to be effected is that
the properties should be situated in a community that constantly participates and has a good
standing in the NFIP (National Flood Insurance Program).
The resistance that may be faced by stakeholders of the program
When implementing the flood buyout programs, the stakeholders might face some
resistance from the residents....


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