University apartments undergo flood buyouts for long-term mitigation.
University, Missouri: $3.22 million
Project Description
The proposed flood buyouts for this project target three areas that include three out of the four buildings of the Hafner Court Apartments. The apartment complex was built in 1965 and there have been 15 severe repetitive and repetitive loss flood insurance claims among these properties. In line with mitigation requirements, all parcels acquired by buyouts will be retained in perpetuity.
Acquisition and demolition will benefit taxpayers by removing potential claimants from the National Flood Insurance Program. The county and taxpayers will benefit from reduced costs for emergency response, post-flood disaster assistance, infrastructure repair and replacement, debris removal, road and street repair, and other flood related remediation within the jurisdiction. Occupants will benefit by getting the properties out of known flood hazard areas. If these homes are not removed from harm's way, they will continue to experience National Flood Insurance Program claims payments and leave lives and property at risk.