More than one year after rescuers swam from home to home in a low-income neighbourhood devastated by flooding in Grand Forks, B.C., some residents say they were rattled to learn the property buyouts they’ve been waiting for will be based on post-disaster values.
Soroka and his wife own two properties in North Ruckle that were assessed before the flood at a combined $270,000 and after at $150,000. They are pensioners who had paid off their mortgages but may now go into debt to buy a new home. Joint funding for “disaster mitigation and adaptation” was announced on June 26, with about $20 million coming from Ottawa, $29 million from B.C., and $3 million from the city.
“It’s really difficult for me to rationalize why the federal and provincial governments have taken this decision when you know that there are some examples in Manitoba, I think, and Quebec where the post-flood value was not used and they used a pre-flood value,” Taylor said. Peterson said the province followed Ottawa’s lead when it determined funding support for buyouts would be based on pre-flood values, but added that focusing on property assessments doesn’t tell the whole story.
Graham Watt, the city’s flood recovery manager, said he reached out to other jurisdictions to learn how they’ve dealt with disasters since there’s little institutional memory in B.C.
Source: Real Estate Daily Report (realestatedailyreport.net)
Travesty aside...that pic is impressive.
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