For Communities Plagued by Repeated Flooding, Property Acquisition May Be the Answer

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05/28/2014 12:25 PM EDT

LINCROFT, N.J. ­-- Millions of people enjoy living near the water, but few people actually want to live in it.

When a property or a neighborhood experiences repeated flooding, costs for the property owner, the community and the state can escalate rapidly.

Flooding may impact the stability of a home or an entire neighborhood, damage or destroy personal property, impact property values and lead to injuries or loss of life. Emergency responders may risk their own lives to help residents escape rising waters.