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Best thing to do with flood zone next door?

The property next door to mine is owned by a local housing authority that builds public housing. However, it's in a flood zone and they've owned it fire 35+ years. They'll almost certainly never build on it. There's also a TON of wildlife that uses that area and the creek corridor behind our house & through the neighborhood. Deer, raccoons, squirrels, rabbits, even foxes and coyotes. Have also seen TONS of songbirds, a Peregrin falcon, Hawks, even a bald eagle.

The city (800k population) has a designation for Riparian Buffer zones for small water bodies/wildlife corridors like this. I'm thinking about petitioning the city to have it transferred from the housing authority to the parks department to be designated that way.

Is that a good idea? Are there better options? What are the pros & cons? What impact would that have on my house and its resellability & resale value?

Environmentally, it seems like kind of an important wildlife corridor, especially with all thr clear cutting happening here. The city has also talked about adding a future trail in the corridor along the creek.

submitted by /u/AlohaMahabro
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source https://www.reddit.com/r/RealEstate/comments/1rf5q5d/best_thing_to_do_with_flood_zone_next_door/
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