3 ms·
What worthwhile benefit does society receive for underwriting the cost of rebuilding property in flood plains? I mean, if you build a house where it's likely t
by tmoertel 14y ago
What worthwhile benefit does society receive for underwriting the cost of rebuilding property in flood plains?
I mean, if you build a house where it's likely to be destroyed, it obviously benefits you to make your inland neighbors pay for your house, should it be destroyed. But how does it benefit your inland neighbors? What do they get that is worth the cost of underwriting your risky behavior?
- raganwald 14y agoAs I noted above, after the 1957 Hurricane in Toronto, the city appropriated the floodplains. There was no benefit to rebuilding when people could easily be relocated. The trouble with Winnipeg is that it's an entire city. It's an economic engine that was built on a river at the time when river commerce was vital. Moving the entire city is infeasible at this point in time, so the givernment assumes some of the flood risk and mitigates some of it with civic projects.