What level of detail should be provided in mitigation plans with respect to Benefit/Cost calculations for projects?
According to DMA interim final rules, (44 CFR @#167;201.6(c)(3)(iii)), local mitigation plans must contain a strategy (or action plan) whereby “Prioritization shall include a special emphasis on the extent to which benefits are maximized according to a cost benefit review of the proposed projects and their associated costs.” This is not intended to require a full-blown cost-benefit calculation for inclusion within the plan document. However, one key aspect of the many considerations in deciding what type of mitigation action(s) to pursue is an economic assessment of the particular action. This (and the other considerations) should be debated and discussed as part of the planning team’s and or larger community’s decision-making process. A possible result of these local discussions could be the decision to complete a formal cost/benefit evaluation of the various mitigation approaches that are technically appropriate for the situation. However, this is not required to be included in the p
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