At least the experience from how it rains here...
The city is 200+ years old. So it's not a matter of poor engineering, it's a matter of dealing with architecture in a time where they couldn't plan the way we do today.
To live near a water sources was an easy way for a city be easily sustainable without a lot of agriculture control. We see cities like New Orleans flood, and people freak out. Then you look and realize half the population has decided over the last few generations to live below sea level.
Mother Nature's generous most of the time, but living so close can be like playing with fire.
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