The seawall in Stevens Point is getting an addition. The wall helps protect hundreds of homes from the sometimes unpredictable Wisconsin River. Many hope the construction will not only save houses from flooding, but also save homeowners money.
The addition to the seawall will take nearly 200 homes out of the 100 year flood plain. That means residents in that area will no longer be required to have flood insurance. That insurance can often cost homeowners $700-$1400 a year – compared to the $50-$100 they’ll spend paying for the addition.
Stevens Point Mayor Andrew Halverson says the addition will help save money now, and in the future.
“The difference for all these property owners of $50-100 a year for ten years versus $700-1400, and the ability to probably get, on average, maybe as much as 5, 10, 15-thousand dollars more for their property,” says Halverson.
Mayor Halverson says the project has been in the works for about 5 years and many homeowners are eager to see it finished.
They’re expected to begin construction on the addition in August and it should be done by the spring of 2014. Mayor Halverson says the total cost of the project will be around $300,000.
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