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<br />Non-Structural Flood Hazard Mitil!:ation <br /> <br />Creation of Wetlands and the Wetland Banking Program <br /> <br />As an integral part of Floodville's Pre-Disaster Flood Hazard Mitigation Plan, wetlands <br />within floodplain areas will be created. Their creation will constitute a "bank". The <br />wetlands will be similar to "new funds". When and if, wetlands are impacted outside the <br />IOO-year floodplain due to development, these "new funds" can be used as payments for <br />the loss. <br /> <br />Flood Insurance <br /> <br />Through an improved education program with local insurance agents and lenders, <br />Floodville proposes to increase its flood insurance policy base by 10 percent a year for <br />the next 5 years. Current coverage is 17% of all structures in the IOO-year floodplain in <br />the community. Workshops for lenders and agents will be intensified in the community. <br />Community officials will provide local lenders addresses and owners names located in the <br />identified IOO-year floodplain. Following the workshop, floodplain residents will be <br />invited to a "town meeting". The advantages of purchasing flood insurance will be <br />presented as well as retrofitting techniques which can be undertaken by individuals to <br />reduce future flood losses. <br /> <br />Acquisition and Relocation <br /> <br />Acquisition is a mitigation technique whereby floodprone properties are <br />acquired/purchased by an entity (usually governmental) and removed from the site. The <br />property is then usually left as open space in perpetuity. Relocation is a mitigation <br />technique whereby floodprone properties are moved out of the flood hazard area to a safe <br />location and the site is left as open space. <br /> <br />One older residential neighborhood in Floodville is designated as low to moderate income <br />housing by the Colorado Division of Housing. The neighborhood contains twelve homes <br />constructed on concrete slab foundations. All are subject to flooding from High Ball <br />Creek with IOO-year flood depths ranging from 3 to 6 feet. <br /> <br />When funding is available, Floodville plans to acquire the 12 homes and move them to <br />a non-floodprone location which the community presently owns. Once this action has <br />been completed, Floodville will designate the area as open space by City Council <br /> <br />13 <br />