Laserfiche WebLink
. <br />~ • . <br />Project Administration <br />The proposed project complies with the administrative provisions of the "Construction Loan <br />Guidelines". The project has addressed the; <br />a. Economic hardshi�nosed to the communitv bv the flood threat• Damages from the 100- <br />yeaz flood are $8,712,000 . Emergency services, environmental damage, c(ean up, <br />business downtime, and other intangibles, including emotional hardship to families, are <br />not included in the estimated costs. The Dry Creek basin is predominantty a low-income <br />azea. Post-flood recovery would be financially nearly impossible for many families. <br />b. The rankin� of the pro op sed project bv the communi com�ared to other capital <br />improvement �rojects: Improvements to Dry Creek are the single greatest incentive for <br />future redevelopment for the Dry Creek area as identified in the North College Avenue <br />Corridor Plan. The Dry Creek Master Drainageway Plan ranks the project as the highest <br />priority in the Dry Creek basin for flood control and hazard reduction. <br />c. The communitY's financial securitypacka� Revenues generated from the City <br />stormwater fees collected in the Dry Creek basin amount to approYimate(y �44,000 <br />annually and $351,000 positive fund balance. <br />d. The de�ree of citizen support expressed for the Rroject at a public hearing; T'wo Open <br />Hauses were held regarding the proposed improvements. Residents within the Dry Creek <br />basin expressed the desire to remedy the flood threat, however, also indicated that <br />because the majority of basin residents aze low income, cannot afford to contribute to <br />funding the improvements. In addition, City Council has adopted the Dry Creek Master <br />___ Drainageway Ptan and the North College Avenue Corridor Plan which identify the Dry <br />Creek floodplain as the primary issue to be addressed. <br />e. The number of persons and structures that would be removed from the floodplain by the <br />rp oject: There are 828 structure currently located in the Dry Creek floodplain in the City <br />and County areas that would be removed wzth the implementation of the proposed <br />project. Most of the structures are pre-Firm and therefor� do not carry flood insurance. <br />f. The communitv's commitment to sound floodplain management as evidence bv its <br />National Flood Insurance Pro�,ram Participation status and the completeness of its <br />adopted re�ulations: Fort Collins and Larimer County are fully committed to sound <br />floodplain management. For example, as previously stated, the City is currently rated as <br />CRS Class 7 and will most likely be rated a Class 6 with the verification of the December <br />1995 CRS application. A Class 6 rating would place the City in the top three <br />communities nationwide for floodplain management. The Adopted Guidelines for the <br />Management and Administration of Floodplains (Attachment 5) and revised City Code, <br />Chapter 10, Flood Hazard Areas (Attachment 6) aze included. <br />EXHIBIT A <br />