The cost to buy out all properties in Longboat Landing is around $100 million.
That’s according to the RMWB who released a technical evaluation of the neighbourhood after residents asked to be considered separate from downtown.
When combining buyouts, reclamation work, and some flood mitigation, the final cost is just over $107 million.
This cost is around what Draper, Ptarmigan Court, and the section of Waterways under 250 metres would be combined as the municipality has put the total at $99.5 million.
Buyouts in downtown and Taiga Nova Eco-Industrial Park aren’t being considered as they would cost around $1.9 billion and $463 million, respectively, for all properties.
The municipality notes the preferred option for Longboat Landing is finishing the berm and enhancing land use provisions. Flood mitigation work in the area is expected to cost $8.6 million.
They’re still talking with homeowners who live under the 250 metre mark about potential buyouts.
Meanwhile, the RMWB is holding six public engagement sessions where impacted residents can share their thoughts on how to proceed in the flood-prone areas. The first takes place at the J. Howard Pew Memorial Family Park on August 11 from 4 p.m. to 8 p.m.
Wood Buffalo council will potentially make a final decision on all flood-prone areas on September 15th.
