What would happen if the store were to flood?
We cannot model our risk at the location with any degree of certainty, though it is a fact that the insurance market has priced in the risk from the severe scenario associated with the 100-year floodplain. If the flooding was light, such as 1993, the store could be cleaned up and re-open in a matter of days. The measures we have to secure the store are designed to hold water out of the store up to a height of 3-4 feet. Were the store to experience a 100-year flood event, it is quite possible that most of our equipment and electrical systems would be damaged or destroyed, along with flooring, drywall, and other structural components of the building. If the actual cost of repair was equal to or greater than 50% of the building’s value pre-flood, New Pi would have to be reconstructed so the ground floor was elevated or floodproofed to one foot above the 100-year flood elevation. It is important to realize that it’s not only in a flood that New Pi could sustain this amount of damage. A tor
