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Favor incentives to reduce risk over regulations

Incentives can be as effective at changing behaviors as regulation, and can be extended to several aspects of reducing disaster risk. For example, in the tri-county area, maintaining open spaces can be encouraged through height and density bonuses. Rewarding efforts to increase resilience through insurance and tax credits can increase the likelihood that households and communities will take action to reduce disaster risk. But incentives programs should be assessed regularly to ensure they truly reduce risk. The CRS especially might do well to shift its priorities. Its efforts to achieve resilience would be better served by providing cities and counties with significant benefits if they spend on strategic buy-outs and retire flood-prone properties.

PERC Reports