The City of San Leandro is working bilaterally with the County to find funding solutions to remove the parcels in the proposed Benefit Assessment District boundaries from being designated by FEMA as being in the 100-year flood zone to the lower risk 500-year flood zone. This would significantly lower the cost to homeowners in those areas by lowering their flood insurance requirements. In this post, CivicMic shares the Neptune Drive Project update.
The City’s goal with the Neptune Drive Project is to finance the construction of a levee, potentially through an Assessment District, that would address the parcels in the flood zone. However, work on the Neptune Drive Project alone won’t result in the redesignation of the parcels. For FEMA to redesignate the 1000 parcels out of the flood zone, the County needs to secure additional funding to address work on the Estudillo Canal. Both the City and County projects need to be completed.
Currently, there are two grant applications in progress. The second grant application is a joint effort by the City and County to secure grant funding to meet the requirements set by FEMA to redesignate the parcels out of the 100-year flood zone.
If the grant process is successful, the second grant will fund a portion of the Neptune Drive Project and the formation of an Assessment District would be suggested to fund the balance. However, if the grant process is not successful, then an Assessment District would be required to fund the full project cost. If the Assessment District is negatively received, the project will not be funded or constructed.
Grants are currently being reviewed and will be going to FEMA after the review process. The results are expected to be announced in late 2021.
To learn more about the status of the Neptune Drive Project, please click here to watch the video of the last community meeting and click here to read the meeting presentation slides.
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