Minot City Council approves voluntary property acquisition plan and mitigation program to aid flood impacted residents Posted on 1/18/2012
By a unanimous vote, the Minot City Council passed a resolution during tonight's (January 18, 2012) special meeting establishing a Voluntary Home Acquisition Plan and a Flood Hazard Mitigation Risk Reduction Program. Depending on appropriate state funding and approval, the two plans will allow the City of Minot to begin offering buyouts to more than 120 homeowners impacted by the Mouse River flood of 2011.
The City of Minot's share of the cost for the first phase of voluntary home acquisitions is 25 percent of the total cost, or $6,138,738 of the $24,554,950 plan.
"The City does plan on discussing, prior to starting home acquisitions, exactly how the Council would like us to fund the City's share of this project," said David Waind, Minot city manager.
The voluntary real estate acquisition plan is designed to work on a "willing buyer-willing seller basis." The City's offer to property owners will be based on the pre-flood assessed value of the property, plus 15 percent to reflect current market value.
The Flood Hazard Mitigation Risk Reduction program is not a permanent flood protection plan. The North Dakota State Water Commission has indicated that having the Risk Reduction program would assist them in making a decision regarding the funding.
More than 120 residences have been identified by the City of Minot as ones they would like to acquire regardless of permanent flood protection plan decisions. None of the homes in the first phase are found in the area commonly referred to as the Lincoln School neighborhood in Northwest Minot.
Those who have questions regarding the voluntary property acquisition plan can contact the Swanson and Warcup law firm at 701-858-8040.
