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<br />In 1997 an FMAP grant application was submitted for better flood risk planning protection. <br />Georgetown received from FMAP $11,900 to analyze their flood risk situation. Engineers <br />developed a plan and course of action that would accommodate the 1 OO-year flood threat. <br />In August 1998, the Local Pre-Flood Hazard Mitigation Plan was completed and adopted <br />by the town council. In November 1998 the FMAP project grant application was submitted <br />for fund assistance to help with project costs detailed in the plan. The award <br />announcement is due back in April 1999. Georgetown has also shown determination in <br />finding a solution to an old reoccurring problem. Regardless of the FMAP funding amount, <br />they are set to start phase 1 of their plan this spring before runoff becomes too high to <br />work in the creek. <br /> <br />2A.3b. Project Description <br />The Georgetown Flood Mitigation Project consists of three construction phases, detailed <br />in the Local Pre-Flood Hazard Mitigation Plan, available upon request. In brief is as <br />follows: <br />Phase 1: Creek Scouring <br />Phase 2: Creek Bank Reinforcement <br />Phase 3: Historic Cribbing Restoration <br />Phase 4: Griffith Street Bypass (not included in this application, but is a part of <br />Georgetown's plan. <br /> <br />2A.3c. Benefits <br />The benefit for this project is multifaceted. The town's lossos incurred in 1995 were <br />$635,000. A one time savings of this amount alone proves its worth. The flood history in <br />Georgetown documents five serious flooding events in the past 30 years. The total <br />accumulative loss amount was approximately two million dollars. This project cost of <br />$152,000 with annual maintenance is a mere 'raindrop in the bucket' in comparison. With <br />historic real estate value increase, property in Georgetown has become one of the most <br />costly areas for relocation. A 1 OO-year flood event occurring before the mitigation action <br />could easily bring damages of $8,000,000. <br /> <br />2A.3d. Costs <br /> <br />Total Project Estimate $152,000 <br /> <br />2A.3e. Partners <br />Fundino Sources <br />Georgetown Government $35,000 <br />FMAP $40,000 <br />Project Impact (creek bank reinforcement, cribbing restoration) $40,000 <br />Private Partners $37,000 <br />**Partners for Georgetown have not yet been finalized. Cabin Creek Hydro-electric Plant <br />above Georgetown and owned by Public Service has indicated their willingness to be a <br />part of the mitigation process long before the PI initiative. <br /> <br />17 <br />