Provinces asking feds for $138 million to help buy out flooded properties
OTTAWA — Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents leave floodplains.
Calculations based on previous experience suggest that the total cost of giving up on 100,000 of the most endangered structures could run into the billions.
Only four times in the past decade have provinces turned to the federal treasury for help to move homes — twice in New Brunswick, and once each in Quebec and Yukon.
In New Brunswick’s case, the federal government picked up more than 80 per cent of the $1.8 million spent to buy out a combined 36 properties after flooding in 2008 and 2010.