Sounds like an interesting get-rich-slow scheme, if you're a property developer.

1. Develop a property near a waterway, but not in a known flood-prone area.

2. Go upstream and develop another property, putting more drainage pressure on the waterway near the first property.

3. If the first property sold, you made money and the problems are someone else's. If it didn't, accept the government buyout.

Lather, rinse, repeat.