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N.D. – The state Water Commission is developing a policy for handling flood home buyouts in North Dakota. The policy says the state would fund 75 percent with the local share at 25 percent.

The Water Commission approved a request from Valley City to buy out 32 structures at a price tag of $4 million.  But denied its’ request to reduce the $1 million 25 percent local share last week.

Valley City Commissioner Matt Pedersen says city officials have to do more homework to find a revenue source for its share. He says a Devils Lake mitigation fund is one option being explored.

Pedersen says another option may be to redistribute existing city sales tax monies instead of raising taxes to pay for the local buyout share.

In Valley City, one commercial property, 4 apartments and 27 single dwelling homes are a part of the four million dollars request. Minot, Lisbon and Fort Ransom were also included in the state request for flood buyouts.