Longboat Landing buyout would cost $97.5 million, roughly doubling original buyout estimate
Finishing existing flood mitigation work for the area would cost an estimated $8.6 million.
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It would cost the municipality approximately $97.5 million to buy out all properties in Longboat Landing, according to a municipal technical evaluation of the community.
This would nearly double the original cost of full and partial buyouts in Waterways, Draper and Ptarmigan Court Trailer Park.
According to the Aug. 7 report, the preferred technical option is to finish the berm and strengthen land use provisions in the Longboat Landing area. This is estimated to cost roughly $8.6 million.
The Longboat Landing neighbourhood was originally treated as a part of downtown when the municipality began studying if it would be cheaper to buyout homes in certain neighbourhoods rather than finish flood mitigation.
No downtown homes or businesses are being considered for potential buyouts or land swaps.
In July, council voted to treat the Longboat Landing area separately from downtown. Many residents speaking to council criticized the municipality for not treating them differently.
At a municipal town hall also held in July, one Longboat Landing resident said everyone he has talked with wanted the area to be considered for buyouts.
So far, the municipality is consulting with residents in flood-prone areas and has not committed to a buyout program.
But if the program is pursued, full buyouts would be brought in for Draper and Ptarmigan Court, as well as a partial buyout for Waterways homes.
This would cost the municipality $99.8 million. Municipal planners argue this is cheaper than continuing with flood mitigation work in those areas.
If those flood berms were to fail, future recovery costs would be more expensive in those neighbourhoods.
Mayor Don Scott has also warned municipalities could be expected to take on more of the financial burden from future natural disasters.
For downtown and Taiga Nova Industrial Park, the preferred technical option is to continue with building flood mitigation projects and strengthening flood provisions.
Buyouts in those areas would cost the municipality roughly $2.3 billion, making it an unrealistic solution.
Starting Tuesday, the municipality is hosting the first of six open houses to discuss flood mitigation options with impacted residents.
Administration is expected to present council with their recommendations for each affected area in September.
-with files from Vincent McDermott
lbeamish@postmedia.com
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