So if the power goes out, the city floods. I will not be moving to that city anytime soon. Maintaining a home his hard enough without having to fight gravity and Mother Nature.
The power is normally not an issue except like for hurricane Katrina. The levee was breached by a barge or two and the pumps themselves went under water and I assume the power backup system also went down. Normally the pumps can handle it and I suspect there must have been improvements. back in the 70's it was claimed that the pumps could move the volume of Ohio River's flow.
But yes that City should have been moved to higher ground and fast commuter trains put into to cross the lake for people needing to work there. never going to happen.