Grand Forks residents likely to receive post-flood home values

Severe flooding hit dozens of homes in Grand Forks last spring. Credit: Brad Siemens

Grand Forks residents who faced severe flooding last year might only receive money for what their homes are worth following the floods.

“Post-flood value means current fair market value,” Mayor Brian Taylor said in a news release. “We got some budget numbers from the appraisals last year, but obviously things have changed since then.”

“We aren’t aiming to necessarily use the numbers in those appraisals because you may have improved the value of your property since then, and that wouldn’t be in the spirit of current fair market value,” he added.

READ MORE: Nearly $50 million in funding announced for Grand Forks flood recovery

Council voted to buy out properties in the North Ruckle neighbourhood in September, but its residents were left in limbo as the city waited to hear if it could secure funding from higher levels of government.

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In June, the provincial and federal governments announced about $50 million for the buyouts and flood mitigation work.

READ MORE: Grand Forks residents protest no-barrier housing proposal, council votes against 70th Ave. location

“Despite only receiving funding for the post-flood value, the city is considering what in-kind support it can give to the residents struggling to relocate,” the city said in a news release.

WATCH: (Aired June 30, 2019) A Grand Forks woman who was originally told her property would be bought out after severe flooding has since learned she’s no longer on the list. Jules Knox reports on how she could be facing bankruptcy.
Click to play video: 'Grand Forks flood victim faces possible bankruptcy' Grand Forks flood victim faces possible bankruptcy
Grand Forks flood victim faces possible bankruptcy – Jul 1, 2019

Council is set to discuss the matter at a 9 a.m. committee of the whole meeting on July 15.

READ MORE: Flood recovery, not supportive housing, should be council focus: Grand Forks citizen’s group

The city expects the timeline for buyouts to be from late 2019 to 2020, although no specific dates have been set.

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