CEDAR RAPIDS -- The floodplain in Cedar Rapids could someday spill over into new sections of the city.

The Federal Emergency Management Agency says more than 300 properties should be in the floodplain.

If the floodplain expands, many of those three-hundred property owners will need to buy flood insurance.

But the city does have a multi-million dollar option that will save those property owners' money.

There's a one percent chance the Cedar River will flow down these streets and flood this neighborhood.

Yet, that's enough to require many people to buy flood insurance.

"Obviously, the city is trying to protect themselves and obviously the community. That's what you want for your town," homeowner Lisa Pruess said.

FEMA recently said Cedar Rapids' levees need to be about two feet taller.

Nothing has really changed since the last time anyone looked at this issue 25-years-ago.

So, it's unclear why the levees weren't built high enough in the first place.

"It'd be hard for me to give an opinion on who was doing the calculations back then. It's possible that something could have been overlooked or just the appearance of the levees may have suggested they provided the right protection, but that will be a question that will undoubtedly come up," Ken DeKeyser from the city’s engineering department said.

Now, some homeowners worry a swelling floodplain will sink their property value.

"It might be harder to sell because, like I said, I wouldn't buy it if it were in a floodplain. So, obviously, somebody else wouldn't either," Pruess said.

Ray Foley's home could also be affected. He's lived near the river for forty years.

"I think we don't need to worry about raisin' 'em. Heck, we ain't had no flood problems here," Foley said.

Foley says it wouldn't make sense to spend any of his money on flood insurance.

"Why would I buy it? You'd never use it. And, I think it's pretty expensive," Foley said.

FEMA argues the risk of flooding is still there. And even though flood insurance might seem extreme, the protection just might keep these homeowners afloat during a catastrophe.

The city has the option of revamping the levee system at the cost of up to twelve million dollars.

If Cedar Rapids improves its levee system, none of those three hundred property owners will need to get flood insurance.

Another solution would involve applying for federal flood insurance discounts.

In the coming weeks and months, the city council will decide whether to improve the levees or ask property owners to get flood insurance.

People who own their own homes wouldn't necessarily have to get flood insurance.

But, lenders usually require people in floodplains to get flood insurance.