The appraisal process for flood-impacted homes is underway in Grand Forks. The Kootenay’s own Keystone Appraisals Inc. have been contacting homeowners. The purpose of the appraisals is determining the pre-flood and post-flood value of impacted homes, to support the Recovery Team in obtaining funding for flood protection through the Disaster Mitigation and Adaptation Fund.
Recovery Manager Graham Watt explains. “There’s areas where new dikes need to be built, where storm water infrastructure needs to be improved, and there’s properties that are basically in the location where those are recommended to be by the engineers, and then there’s also areas like North Ruckle or some of the lowest lying parts of Johnson Flats where their future destination is to be wetland or green flood-way that can allow the water to pass over without harming properties.”
He says part of the process is an Owners Property Disclosure Form. “Which allows the owner to list what the improvements are on the property, identify any special features that would be missed in a BC assessment drive by assessment, that’s the typical approach, and try to basically document as much as possible that provides a statement of value for the home.”
Watt adds the appraisals also help understand the costs of potential buyouts. If you appear on the Recovery Team’s map but haven’t been contacted you can also reach out yourself.
Recovery Manager Graham Watt says homeowners should recognize that Keystone is neutral. “So if people have made improvements it’s just important that they are as complete and share as much as possible, really The City is trying to be an advocate for the value of those properties going forward into this overall program and we recognize it needs to be fair. So I think it’s really important just to be sharing as much as possible and supporting that process.”
Homeowners will receive the data back once the report is finalized. The DMAF proposal is due January 11th, requesting over 48 million dollars in Provincial and Federal funding. There’s also an information session taking place regarding housing appraisals.
To learn more about the appraisals meeting click here.
To read more about appraisals click here.
To visit the Recovery Team’s website click here.