Not a bad idea. Just because there may not have been flooding in your area before doesn’t mean it can’t happen as we’ve experienced here in Atlanta a couple of weeks ago. I would think if you take all the reasonable design factors into consideration and the numbers work out then it may make good business sense to. As for the technical gotchas I’d highly recommend hiring a data center consultant or meet with some of the vendors such as Anixter and get their take. Also check out the <a href=”http://www.anixter.com/AXECOM/AXEDocLib.nsf/%28UnID%29/09DF0A00E09C409886257177006611B4/$file/ANSI-TIA-EIA-942.pdf”>TIA/EIA 942 standard</a>.