PROJ02023 - Laserfiche WebLink

Home Browse Search

if- ~ ::t'-) d. ~ '-'",!,,"~ 0_', ". -\ , . ~ .-~.". ..~... ,-.:;;:;.;;." Proiect Administration The proposed project cornplies with the administrative provisions of the "Construction Loan Guidelines". The project has addressed the; a. Economic hardship posed to the cornmunity by the flood threat: Damages from the 100- year flood are $8,712,000. Ernergency services, environmental damage, clean up, business downtime, and other intangibles, including emotional hardship to families, are Eot included in the estimated costs. The Dry Creek basin is predominantly a low-income area. Post-flood recovery would be fmancially nearly impossible for many families. b. The rankin~ of the proposed proiect bv the community compared to other capital improvement projects: Improvements to Dry Creek are the single greatest incentive for future redevelopment for the Dry Creek area as identified in the North College A venue Corridor Plan. The Dry Creek Master Drainageway Plan ranks the project as the highest priority in the Dry Creek basin for flood control and hazard reduction. c. The community's financial securitv package: Revenues generated from the City stormwater fees collected in the Dry Creek basin amount to approximately $~OOP, annually and $351,000 positive fund balance. (Fee c~"" .b~ tH11t''''JtY-f'tf./ The degree of citizen support expressed for the project at a public hearing: Two Open Houses were held regarding the proposed improvements. Residents within the Dry Creek basin expressed the desire to remedy the flood threat, however, also indicated that because the majority of basin residents are low income, cannot afford to contribute to funding the improvernents. In addition, City Council has adopted the Dry Creek Master Drainageway Plan and the North College Avenue Conidor Plan which identify the Diy' Creek flqodplain as the primary issue to be addressed. e. The number of persons and Structures that would be removed from the floodplain bv the proiect: There are 828 structure currently located in the Dry Creek floodplain in the City and County areas that would be removed with the implementation of the proposed project. Most of the structures are pre-Firm and therefore- do not carry flood insurance. f. The community's commitment to sound floodplain management as evidenc~ bv its National Flood Insurance Pro~rarn Participation status and the completeness of its . adopted regulations: Fort Collins and Larimer County are fully committed to sound floodplain management. For example, as previously stated, the City is currently rated as CRS Class 7 and will most likely be rated a Class 6 with the verification of the December 1995 CRS application. A Class 6 rating would place the City in the top three communities nationwide for floodplain management The Adopted Guidelines for theManagement and Administration of Floodplains (Attachment 5) and revised City Code, Chapter 10, Flood Hazard Areas (Attachment 6) are included. EXHIBIT A