During the past century, the Village of Shorewood, Illinois transitioned from a sleepy summer cottage respite along the DuPage River to a rapidly expanding suburban community. However, following an historic rainfall event in July 1996, the community of Shorewood received a federal disaster declaration and centered their focus on recovery and mitigation. This loss avoidance study estimates flood damages that would have occurred in Shorewood along the DuPage River if at-risk properties had not been mitigated. It also tells the story of Shorewood, its residents, and their collective resolve in the wake of repeated flooding. This presentation will evaluate the mitigation benefits from 56 property acquisitions between 1996 and 2010, funded through four different public sources. The mitigation benefits, or return on investment, have already surpassed the initial investment, and they will continue to accrue into perpetuity. The presentation will also discuss the local financial mechanisms to facilitate long-term capital improvement projects, the complementary community plans and ordinances, and the role of local champions who seized the momentum following the recovery effort.