An engineering firm has found it will cost more than $71 million to mitigate Bundaberg in southern Queensland's Wide Bay against floods.
The preliminary report was handed to council yesterday.
The report supports the community flood group's suggestion that the CBD needs significant mitigation projects to protect it from future floods.
A $71 million east levee and floodgate would protect east, south and central Bundaberg, meaning more than 740 low-lying properties would not flood.
The report also found it would cost $63 million to raise flooded houses in Bundaberg and $17 million to upgrade the Perry River Bridge, which would improve evacuation routes for more than 600 residents in low-lying areas.
Council says it will consider the report but it needs funding from state and federal governments.
© ABC 2014
15:19 EST Editor's note: This story has been updated to clarify that the higher prices predicted by livestock agent Kevin Currie would be paid for dressed weight and not live weight bullocks, as was suggested in the original story.