High River homes that were worth millions before being ravaged by the 2013 flood have recouped just under $3 million for the province following a public auction. Last month, Alberta Infrastructure launched an auction for 26 homes — 25 in High River and one in Sundre — with no reserve bids in hopes of recovering some of the cash used to purchase dwellings determined to be in the Sheep River flood plain. Primarily in the former neighbourhood of Beachwood Estates, some of the homes boasted property values closing in on $1 million before the flood that swept through southern Alberta. The auctioned properties were acquired by the province under its Floodway Relocation Program, which saw the government shell out $92.9 million to displaced homeowners for 94 properties. Each of the auctioned homes was given a thorough structural and environmental assessment before being deemed candidates for a successful relocation.

Source: National Post February 22, 2017 17:32 UTC