Ward County Begins Plans to Rebuild

The Minot Daily has an article in it today about Minot's future:  "Ward County Begins Plans to Rebuild."

It states that talks are going on about how to get the mitigation plans in place and which areas to consider.  It will not be realized for up to at LEAST 18 months from now.  They have A LOT of planning to do.   The most important part of it all will be the city making the decision about which homes will be part of the home acquisitions / home relocation program.

To get more information go to the Minot Daily News website and look up the above article's title.

For people with homes located within approximately two blocks (I'm guessing the distance) of the river, this program can be a lifesaver for some, especially those without flood insurance.  It can save those individuals from going into financial instability or financial ruin.

For those same people who live close to the river, but have flood insurance...the program is only meant for property acquisition...not to make a profit for you.  Your flood insurance is only there to assist you in rebuilding your existing structure, or securing a home of equal value to replace your total loss.  In the event your home is a total loss, the flood insurance will compensate the home owner of the total value of the home. The city will condemn it and demolish the residence.

If your home is repairable and flood insurance will assist you in rebuilding it, you will only receive enough money to repair it to its pre-flood condition. In the event of a repairable acquisition, the government will pay the other portion in combination with the flood insurance to bring the total amount to the market value of your home prior to June 2011.

There are lots of do's and dont's when it comes to this program, and any eligibility can be revoked if the rules are not followed closely. So if you have a home within approximately two blocks (I'm guessing the distance) of the river channel here in Minot, I advise you to read the article carefully and stay informed about this program.  Stizo :)