Title
Flooded properties analysis and of submitting applications for a Hazard Mitigation Grant for federal and state funding
Body
Action Required:
Guidance
Description:
Staff is in the process of a comprehensive evaluation of all flood-prone properties in the City. All properties will be evaluated and ranked to assist in the decision making process regarding whether the City wants to participate in a property buyout, and if so, which properties will be pursued. The properties located at 325 Alpine Drive and 335 Alpine Drive have experienced flooding within the structure at least twice within the last 10 years. The homes on these properties both appear to be located within the 100-year floodplain. Staff completed a Residential Substantial Damage Estimate analysis and both properties were found not to be substantially damaged as defined by FEMA.
However, a hazard mitigation grant may be available from GEMA to buy out properties in the floodplain. Making application to buy out these properties does not obligate the City of Roswell to participate in the buyout, however, submittal of the application is time sensitive. The grant would not cover 100% of the acquisition, so other funding sources such as state funds could be explored to fund the portion of the buyout cost not covered by the federal grant. We are not able to pursue other funding opportunities without first submitting the grant application. To submit the application, an elevation certificate is required. The cost of the elevation certificate is $350 per house. It is also necessary to establish the value of the structures prior to flooding. The homeowners of the properties must agree with the established value of their property. If an independent appraisal is required, the estimated cost per appraisal is $550.
Comments:
Staff is seeking authorization to submit the Hazard Mitigation Grant application to GEMA and the funding for an elevation certificate to be prepared for each property.