According to the most recent survey from INSULA and the Tide Forecasting Office, 14% of the historic city is flooded by the time water level reaches 110 centimetres.3 Indeed, areas of historic Venice start to go underwater when water level approaches 90 centimetres. The probability that INSULA can raise pavements and reinforce banks by 2014 is highly improbable given recent budget cuts. In 2009 and 2010, the funding averaged EUR 16.85 million per year and has been falling since 2003, when INSULA was allocated EUR 55.7 million.