Funding is flooding in for the City of Austin’s No. 1 priority project, and it still remains to be seen whether several affected businesses will become part of an acquisition process.

According to assistant city engineer Steven Lang, bidding will begin late next year for the estimated $9.25 million North Main Project — phases 3-7 of the city’s 12-phase flood mitigation plan.

Lang reported to the city council Monday that the Department of Natural Resources will provide $1.5 million in new funding in addition to $1.5 million in carry-over funding from 2008, and the city engineering department has also been working on a $2.5 million grant from the U.S. Department of Commerce.

To bring the funding project together, however, the city needs to designate nearly $3.5 million in revenue from Austin’s half-cent local option sales tax for the project. Passed by public vote in November 2006, the tax generates funding designated for local flood mitigation. The council approved the $3.5 million designation on Monday, with the mayor as signee.

After record-setting floods in 2000, 2004 and 2008, the North Main Project was named the No. 1 priority for the city.

The project would include, among other features:

Approximately 3,000 feet of flood barrier on the west side of Cedar River

Six storm water outfall closure structures

A storm water pump station on the west side of the river by Main Street North and Seventh Place Northwest

Approximately 850 feet of sanitary sewer force main relocation along North Main Street

Potential property acquisition of seven sites

Lang said the city should receive word about the Department of Commerce grant in the next couple weeks. Work on the North Main Project could begin as early as 2010, he said.

Talks have not been scheduled with North Main Street businesses for acquisitions — if there will be any, Lang said.