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. . insur.rnce program. It is not known how many of the insured structures are locatel;l within the Dry Creek flood plain. STRUCTIJRAL MEASURES To the extent that l!. strUcwraJ alternative would not necessarily remove all structures from the tOO-year flood hazard area, flood insurance could be a component ofa structural plan. Several structural measures were (:(Insidered to reduce ~r eliminate the flooding in Fon Collins from Dry Creek. As discussed earlier in this repon, the study area was divided into three reaches to be consistent with the Ciry's drainagcway plan. The formulation of structural measures was tailored to address those areas e;l;perieneing the greatest flood damage while minimizing the environmental impacts. Structural measures considered were a diversion channel and channel improvements. Dams were not evalualed as pan ofthjsreconnaissance studybee.ause the physical topography io the Fon Collins area is flat, and there were no apparent cost-effective locations for dams. Levees were not considered because of the close proximity of the channel to residential and commercial buildings and because the uistingchannel in some areas has been oblilerated by development and would require construction or a new channel. The use of flood insurance to provide protection against financial losses caused by flooding will increase in the future. There are two primary reasons that this will occur. First, flood insurance is required by most lending institutions on structures used as collateral which are located in the lOO-year flood plain. As property is sold and financed over time, an increased number of structures will be insured. SOCOlIdly, as property owners become aware of the threat of flooding, they are more J.ikely to purchase flood insurance. In the cvent a serious flood occurs, a large increase in the number of insured structures is probable. PLAN FORMULAll0~ AJ\1> ALTER..l'o;ATIVE PLANS FWOD PLAIN ZONTh"G The City of Fort Collins and Larimer County have adopted land use regulations restricting development in the ]oa.year flood plain and in the designated floodway. These regulations require that ncw structures placed in the flood plain be prote(:ted by flood proofing or elevation from polential damage hya loa-year flood even!. In the ease of the floodway, the developer must also cnsure thaI duo: development will not increase lQO.-year flood depthS beyond acttptable f100dway limits. Plan formulation efforts for this reconnaissance study proceeded through the following three phases: review of previous sponsor identified alternatives, formulation and analysis of alternatives during the initial reconnaissance study, and funher analysis of the desired alternative during the reconnaissance SlUdycxtension efforts. TheSt' efforts will be summarized. Continued flood plain regulation is required in conjunction with the FEMA flood insurance program. These regulations will limit increases in future flex>d damages but will not greatly reduce the existing flood problem. Thc Dry Crcck Dr.llnageway Plan, prepared for the City of Fon Collins in January 19S0byGingery Associates,lne.,identified the fOllowing four economically feasible alternatives: . Channel improvements, including a channel bypass around Alta Vista, . s-s H .