For decades, the Annapolis, Maryland, waterfront has been struggling with nuisance flooding that has forced some businesses to temporarily close in the quaint historic district. This week, a 100 member committee presented a report to the city council that proposes measures to address today’s flooding problem and even higher sea level rise-driven tides in the years to come.
The plan, which calls for temporary and permanent resiliency barriers, the rebuilding of Hillman Garage, and the redevelopment and elevation of parts of of City Dock, comes with a $25-50 million price tag. The committee suggested that a portion of the project funded through an increase in the county and city hotel tax and a bond issue. The remainder could be funded by private investment, grants and federal and state funding sources.
So-called “sunny day” flooding has become a problem for communities all along the Atlantic, Pacific and Gulf of Mexico. Buyers, sellers, owners and real estate agents need to be aware of how governments are addressing the problem. Some, like Annapolis, are taking a pro-active approach. Too many others are ignoring the problem that will one day reach a point where the floodwaters themselves will insist on being addressed as they inundate properties.
Buyers, sellers, owners and real estate agents need to be aware of what’s being done in their community or town of interest and not only in terms of where the floodwaters are going. They also need to know if their taxes will be hiked to pay for flood mitigation projects and if any structures, such as sea walls or pumps, will be built nearby that could impact their property value. In the worst case scenario, they need to know if the government is in total denial stage, which could lead them to get flooded out.
Information about this critical issue is included in “7 Sea Level Real Estate Questions.”