The City of Launceston will establish a flood mitigation strategy to address the current and future risks facing the municipality.
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The notice of motion by councillor Alex Britton received unanimous support, with a detailed project plan set to be completed by September.
The initiative aims to recognise "the existential risks associated with major floods" and tackle the parts of the city that are most vulnerable.
Launceston mayor Matthew Garwood said the study would aid the council in delivering a flood mitigation report using all available research, modelling, economic analysis and historic data.
"The report will identify and evaluate flood mitigation measures, including large scale infrastructure projects such as levees and barrages, natural solutions such as wetland restoration and riparian buffers, and policy measures such as zoning changes and building codes," he said.
The council ran a recovery exercise in 2023 in conjunction with the Australian Institute for Disaster Relief which outlined the damage a 1/500-year annual exceedance probability flood event would cause.
The region would need up to 10 years to recover from an incident of this scale.
"Climate change is increasing the severity of flood events, posing an ongoing risk to the safety, wellbeing and successful enterprise of our residents," Cr Garwood said.
"We understand that proactive flood mitigation measures are essential to reducing the vulnerability of our community to future flood risks, protecting property, reducing economic loss and ensuring the sustainable development of our region."