Resilience 2021: The Importance of Seismic Functional Recovery and Community Resilience in the Built Environment
This white paper, released by the Institute’s Multihazard Mitigation Council (MMC) and Council on Finance, Insurance and Real Estate (CFIRE) in October 2015, promotes the use of private and public incentives to achieve resilience in U.S. communities. In 2014, the MMC and CFIRE assembled a multi-sector team of experts to look at private/public-sector opportunities to induce corrective action, known as “incentivization.” In the white paper, the MMC/CFIRE team offers a new approach—one focused on capturing all of the potential incentives provided by the public and private sectors for pre- and post-hazard investment. The team concludes that the most cost-effective manner to achieve resilience is through a holistic and integrated set of public, private and hybrid programs based on capturing opportunities available through mortgages and loans; insurance; finance; tax incentives and credits; grants; regulations; and enhanced building codes and their application.
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