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<br />C-10 <br />– Medium: Project will have a long-term impact on the reduction of risk exposure to life and <br />property, or project will provide an immediate reduction in the risk exposure to property. <br />– Low: Long-term benefits of the project are difficult to quantify in the short term. <br />– Costs—Enter “High,” “Medium” or “Low” as follows: <br />– High: Would require an increase in revenue via an alternative source (i.e., bonds, grants, <br />fee increases) to implement. Existing funding levels are not adequate to cover the costs of <br />the proposed project. <br />– Medium: Could budget for under existing work-plan, but would require a reapportionment <br />of the budget or a budget amendment, or the cost of the project would have to be spread <br />over multiple years. <br />– Low: Possible to fund under existing budget. Project is part of, or can be part of an existing <br />ongoing program. <br /> If you know the estimated cost of a project because it is part of an existing, ongoing program, <br />indicate the amount. <br />– Do Benefits Exceed the Cost?—Enter “Yes” or “No.” This is a qualitative assessment. Enter <br />“Yes” if the benefit rating (high, medium or low) is the same as or higher than the cost rating <br />(high benefit/high cost; high benefit/medium cost; medium benefit/low cost; etc.). Enter “No” <br />if the benefit rating is lower than the cost rating (medium benefit/high cost, low benefit/medium <br />cost; etc.) <br />– Is the Project Grant-Eligible?—Enter “Yes” or “No.” Refer to the fact sheet on HMGP and <br />PDM. <br />– Can Project Be Funded Under Existing Program Budgets?—Enter “Yes” or “No.” In other <br />words, is this initiative currently budgeted for, or would it require a new budget authorization <br />or funding from another source such as grants? <br />– Priority—Enter “High,” “Medium” or “Low” as follows: <br />– High: Project meets multiple plan objectives, benefits exceed cost, funding is secured under <br />existing programs, or is grant eligible, and project can be completed in 1 to 5 years (i.e., <br />short term project) once funded. <br />– Medium: Project meets at least 1 plan objective, benefits exceed costs, requires special <br />funding authorization under existing programs, grant eligibility is questionable, and project <br />can be completed in 1 to 5 years once funded. <br />– Low: Project will mitigate the risk of a hazard, benefits exceed costs, funding has not been <br />secured, project is not grant eligible, and time line for completion is long term (5 to 10 <br />years). <br />This prioritization is a simple review to determine that the initiatives you have identified meet one of the <br />primary objectives of the Disaster Mitigation Act. It is not the det ailed benefit/cost analysis required for <br />HMGP/PDM project grants. The prioritization will identify any projects whose probable benefits will not <br />exceed the probable costs. <br />Analysis of Mitigation Actions <br />Complete Table X-9 summarizing the mitigation actions by hazard of concern and the following six <br />mitigation types: