Flood Buyout benefiting Hannibal after recent flood - WGEM.com: Quincy News, Weather, Sports, and Radio

Flood Buyout benefiting Hannibal after recent flood

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HANNIBAL, Mo. (WGEM) -

While recent flood waters were nearly as high as they were in 2008, the damage, this time, was limited in Hannibal.  In recent years, the city bought more than 40 flood prone properties.  City manager Jeff LaGarce said it definitely was.  For example, they don't have to make water rescues like this every time it floods.  LaGarce said in 2010, there were more than 20 water rescues, but this year, not a single one. For business owners who sold their property, they're happy they don't have to worry about rising water anymore.



Hannibal Machine is located off highway MM, but this was where the business was just over a year ago off 11th street and Warren Barret Drive.   Every year, Manager Scott Haycraft said they had to deal with the rising Mississippi but now they don't have to worry. 

"Spectacular feeling knowing that we're not going to be stuck sandbagging another year or diverting our jobs to help with flood efforts," he said.  
 
City Manager Jeff LaGarce says Hannibal Machine was one of 25 commercial properties purchased through the flood buyout program since 2009.  There's nothing but empty lots in those areas, but LaGarce said that's a big relief. 

"It's comforting for us to know that we're not having to use our emergency resources performing rescues when we can actually be fighting the floods or preparing the flood wall," LaGarce said.  

LaGarce said every business that was purchased would have suffered damage in the last flood and that could have impacted the city.  

"It has a direct impact on the businesses and on the employees which are citizens of this community and I suppose there is an impact on the city as well when it comes to economic activity and taxes and things like that," he said. 

Haycraft said by moving Hannibal Machine, they're saving thousands of dollars by not having to deal with the flood.

"Thankfully we had good insurance and that would help out with everything like that. Out of pocket expenses would range between $4,000 and $10,000 at times. I mean it varied depending on the amount of water damage." 

LaGarce said these buyouts also save the Federal Government money.  From 1993 to 2008, FEMA reports for every dollar spent on a flood buyout, it saved the government more than nine dollars in federal disaster assistance.

 

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