Enes Yildirim, Ibrahim Demir

Property buyout is one of the most frequently preferred flood mitigation applications by decision-makers for long-term risk reduction. Due to its high-level funding requirements as a mitigation solution, it requires extensive benefits and costs analysis for the selected region. Many communities in the State of Iowa experienced flood events (i.e. 1993, 2008, 2014, 2019) which resulted in a heavy economic impact over a couple of decades. Nearly 3,000 property acquisitions have been made between 2007 and 2017 by Iowa Homeland Security and Emergency Management Department (IHSEMD). This study presents a web-based Flood Risk Assessment and Mitigation Environment (FRAME) which provides visual data analytics capabilities to analyze property and community level benefit-cost analysis for property acquisitions. The FRAME allows users to query previous mitigation projects and buyouts that are completed by IHSEMD. A detailed benefit-cost analysis of historical property buyouts and direct losses of existing properties in the Middle Cedar watershed in Iowa is studied using stream gauge data from the United States Geological Survey (USGS). Projected stream gauge datasets which are outputs of two climate scenarios (A1FI-fossil intensive and A2-low emission) are also utilized to assess future avoided losses for acquisitions and possible direct economic losses for existing parcels. Case study results indicate that the average benefit-cost ratio (BCR) for most buyouts in Iowa is around 0.86. In addition, nearly half of the buyouts reached to 4.72 BCR in low emission and 6.3 BCR in fossil intensive climate projections.