The city council in Minot, N.D., has approved a plan that could result in the acquisition of more than 270 properties for future flood protection measures.
The voluntary program calls for negotiations to begin with willing landowners, with a goal of acquiring at least 272 homes. City Finance Director Cindy Hemphill is suggesting a citywide special assessment to pay the city’s share of the cost, which could be as much as $10.7 million. State funds also will be used.
The total cost of acquiring the first 224 homes is $42.6 million. Officials hope to buy out another 48 homes through a separate federal program.
Souris River flooding last spring damaged more than 4,000 homes and businesses in Minot. Officials are now working on plans to prevent that from happening again.
Topics Flood
Was this article valuable?
Here are more articles you may enjoy.
AIG Joins Private Equity Firm Onex to Acquire Re/Insurer Convex Group 
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24 
Insured Losses From Hurricane Melissa Could Reach $4.2 Billion, Verisk Estimates 
PHLY Makes Largest Acquisition in Its History With Collector Car Business Expansion 
