The likelihood of future damage from flood events is rated by the location of a property in the flood zone. Three (3) out of four (4) properties are located in the AE zone-areas subject to inundation by 1-percent-annual-chance flood event; one (1) property is in a location currently rated as D zone-undetermined but possible flood hazard. However, this property has a documented history of significant flooding at least twice in the past 7 years and is located adjacent to 3 properties that were acquired by Gila County after a 2003 monsoon event caused severe flood damage to a Roosevelt neighborhood.
The estimated total cost of this project is based on FEMA approval of four (4) property acquisitions and the estimated Current Market Value of acquisitions plus the estimated of site demolition, restoration and stabilization: $464,492.00 (75% Federal Share = $348369.00; County Share = $116,123.00).
Project funding is available from the date of a FEMA award letter. Projects must be completed within 3 years. Matching funds may not be expended prior to the date of a FEMA award letter. |