SC taxpayers will benefit if we provide funds to buy homes in our flood-prone areas

COVID-19 has reminded us how important it is for our federal, state and local governments to work together to solve issues that threaten our citizens. Disaster response and relief are core functions of governments; they require close coordination every step from the White House to the courthouse.

Over the past decade South Carolinians from all corners of the state — including the Upstate, Midlands, Lowcountry and Pee Dee — have experienced devastating floods and other natural disasters. We all remember the so-called “1,000-year flood” in 2015 and those of us who reside along the coast have spent the last few years recovering from the impacts of hurricanes Dorian, Florence and Matthew.

At both the state and local levels South Carolina has been blessed with strong leaders who have led us through these tough times; time after time the response from Team SC to natural disasters has been swift. Unfortunately, however, it’s not just a matter of “when” the next natural disaster will strike — it’s also a matter of “where.”

And that’s why I have sponsored the South Carolina Revolving Resilience Fund Act, which would provide funding for grants and low-interest loans to local governments so they can purchase flood-prone homes located in floodplains.

The bill passed the Senate with nearly unanimous support, and state Rep. Heather Ammons Crawford has sponsored a companion bill in the House. The Federal Emergency Management Agency operates a grant program that purchases flood-damaged homes in floodplains and demolishes them; the federal government pays for 75% of these buyouts while local governments are expected to fund the remaining 25%.

However, these buyouts are often delayed as local governments try to scrape together the funds to provide their share.

The South Carolina Revolving Resilience Fund Act would expedite these buyouts by offering low-interest loans to municipalities and counties so they can get more of our citizens out of harm’s way before the next catastrophic flood event.

In the long run buying out these repeatedly flooded properties will save taxpayers money versus repeatedly paying the costs for repairs and replacements. By helping to fund these critically needed loans, we will lessen the heartbreak experienced by many of our friends and neighbors — and we will also reduce the costs for taxpayers.

If the House passes the South Carolina Revolving Resilience Fund Act this year, we can begin to prepare now for the next catastrophic flood — and we’ll also be ready to lessen its impact and devastation.

State Sen. Stephen Goldfinch lives in Georgetown County and represents District 34.