Flood protection means lower premiums in Moorhead
Some Moorhead property owners no longer need to buy expensive flood insurance.
A Federal Emergency Management Agency decision to approve a levee and floodwall system completed in 2013 removes the flood insurance requirement for 117 homes in a south Moorhead neighborhood.
Flood insurance premiums in the neighborhood were as high as $4,700 a year.
Since the record flood of 2009, Moorhead has spent $105 million removing 240 homes near the Red River and building new levees and floodwalls.
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City Engineer Bob Zimmerman said the flood protections also will make those homes more attractive to buyers.
"As properties are bought and sold in the neighborhood, the benefit will be realized in that the new owners won't be required to purchase that expensive insurance," Zimmerman said.
Residents can still decide to buy cheaper, low-risk flood insurance for $300 to $500, he said.
Moorhead is seeking FEMA approval for four additional levee projects.