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7.B. - Page 18 of 42 1. Introduction Sea level rise (SLR) is one of the most serious consequences of climate change and it will have a significant effect on San Mateo County, Which has more people and property value at risk from the rising sea than any other county in the state. The San Mateo County Sea Level Rise Vulnerability Assessment completed in March 2018 found that in the event of a mid-leve12100 sea level rise scenario, property With an assessed value of $34 billion Would be flooded on the Bayshore and on the Coastside north of Half Moon Bay. In addition, the Vulnerability Assessment found that $932 million in assessed property value could be at risk from erosion on the Coastside north of Half Moon Bay. Congresswoman Jackie Speier identified the need for a countywide agency to address the challenges of flooding, sea level rise and coastal erosion at the "Floods, Droughts, Rising Seas, Oh My!" Water summit convened by the County and the City/County Association of Governments (C/CAG) in March 2018. A countywide agency would: allow San Mateo County and its cities to coordinate across jurisdictional lines; avoid duplication of efforts and build expertise; and create a unified voice that would far better position the County and its cities to obtain state and federal funds for addressing flooding, SLR and coastal erosion. Several efforts to address flooding, sea level rise and coastal erosion in San Mateo County are already underway. Since 1959, the San Mateo County Flood Control District (FCD) has addressed flooding issues in three county flood zones with an annual budget of $3.8 million. The County's Flood Resilience Program was started in 2o16 with the mission to address cross jurisdictional flood risks. The Flood Resilience Program is currently Leading project development in seven cities pursuant to three Memoranda of Understanding NOW Bayfront Canal (Redwood City, Atherton, Menlo Park, Unincorporated SMC); Belmont Creek (Belmont, San Carlos, Unincorporated SMC); and Navigable Slough (South San Francisco, San Bruno, Unincorporated SMC). The County's Office of Sustainability has several planning initiatives related to sea level rise and climate change more broadly, including the Sea Change San Mateo County initiative. Several cities have pursued their own flood and sea level rise protection projects, particularly the cities of San Mateo and Foster City. C/CAG is helping cities and the County identify and fund regional stormwater management infrastructure that will improve water quality and mitigate downstream flood risk. However, as identified by the 2014 Grand Jury Report, "Flooding Ahead: Planning for Sea Level Rise," the County and its 20 cities need a coordinated approach to effectively address flooding, SLR and coastal erosion across the County as a whole. Flood and Sea Level Rise Resiliency Agency Proposal 210