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Cityscape: Volume 21 Number 3 | Small Area Fair Market Rents - Protecting Low-Income Housing from Climate Risks


Small Area Fair Market Rents

Volume 21 Number 3

Mark D. Shroder
Michelle P. Matuga

Protecting Low-Income Housing from Climate Risks

Michael E. Canes
Logistics Management Institute

Buildings are vulnerable to short term extreme weather events such as flooding, high winds, wildfires and heavy precipitation, and to longer term forces such as soil erosion and extended heat waves. A warming global climate increases the risks of these types of events, necessitating a strategy to manage them. Protocols have been developed to incorporate climate risks into risk management strategies in response to rising interest from public authorities, bond rating agencies, insurance companies and others. By incorporating climate risks into their risk management strategies and acting to mitigate such risks, public housing authorities can (1) recognize the emergence of such risks, (2) quantify them via localized climate impact projections, (3) develop plans to mitigate them, and (4) engage in strengthening or other strategies to protect buildings and their residents and to save money when severe weather events occur.

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