FLOOD BUYOUTS COULD SAVE MONEY IN THE LONG RUN

Just a few weeks ago, it looked as if the city of Cape Girardeau couldn't afford to even consider the notion of a buyout in flood-prone areas. That changed when Gov. Mel Carnahan announced the state will help some towns pay for local buyout costs.

Buyouts aren't cheap, but neither is flood damage. In the long run, a buyout in flood areas may save money for the city of Cape Girardeau as well as state and federal coffers.

Cape Girardeau officials estimate there are more than 80 homes in flood-prone areas. Forty-two of those are in the Red Star area, 22 in Smelterville, 14 in Meadowbrook and two along Highway 177. The city hasn't yet decided whether to include all four flood areas.

The price tag is steep. It would cost more than $666,000 to buy the 40 structures and tear them down. Of that total, the federal government would pick up $345,000 of the cost. The state and city could end up paying about $160,000 each. The city's share would have to be shifted from other parts of the budget or the reserve fund. No doubt the buyout became more palatable when state dollars entered the picture. The federal government typically pays 75 percent of the cost.

Some may criticize the city for lining up for the federal and state handouts. Everyone wants to cut state and federal spending -- until it affects them. But if the city, state and feds keep doling out big bucks for flood disaster relief in these areas, government may be better off in the long run to get people out of these homes. It may be a more efficient use of tax dollars.

Granted, floods like the ones the Midwest experienced in 1993 and 1995 aren't commonplace. But the fact that two major floods occurred only two years apart gives government entities and taxpayers reason to pause.

Paying people to return to flooded properties for a second and third time doesn't sit well with many taxpayers. On the other hand, these property owners may find it difficult to sell their homes. Most people just can't afford to walk away.

The city should ensure that a potential buyout is economically feasible. If only a handful of property owners are interested, then it wouldn't pay the city to proceed. Taxpayers want to make sure it is a wise investment.