HF692

This bill proposes a financial plan to help prevent or reduce flood damage in the Red River Basin in Minnesota. The state plans to invest $48,586,000 in various flood hazard mitigation projects. The money will come from the sale of state bonds and will fund several specific projects aimed at improving flood defenses, like building impoundments and enhancing water control systems. These projects include:

1. $2,000,000 to remove the city of Newfolden from the 100-year floodplain.
2. $13,748,000 to rehabilitate the Mustinka River and the Redpath Impoundment.
3. $9,000,000 for the Roseau Lake Rehabilitation project.
4. An additional $2,000,000 for a project in Middle-Snake-Tamarac Rivers Watershed District to increase storage and control water levels.
5. $17,338,000 for the Klondike Clean Water Retention Project which covers engineering, land acquisition, and construction phases.
6. $4,500,000 for planning and design related to the Whitney Lake retention sites.

The legislation allows for covering up to 75% of the costs for these projects. It ensures that local communities aren't overwhelmed financially by these necessary improvements, using a formula based on local median incomes to help handle costs exceeding manageable thresholds.