Consultants are doing a feasibility report after a flood study 18 months ago showed the impact on floodplain residents of a one in 100 year flood.
Jugiong businessman Hugh Robb says around a dozen people attended a meeting organised by Harden Shire council last night but not all were from the flood plain - they're just interested residents.
"There was a lot of uncertainty about the social and economic impact on Jugiong of doing a voluntary purchase scheme," said Mr Robb.
"There were also questions around say for instance people had their house on a 20 acre block, what would happen to the 20 acres, who would be responsible for it, could people still farm it things like that."
The state government is funding the feasibility study into lifting flood prone homes or buying them - but when it would fund such a move is unclear.
Harden Shire Council's Director of Environmental Services Sharon Langman says some of the buildings are 100 years old, others were built in the 60's, so it's a complicated process.
And once a decision is made, Ms Langman says funding would then have to be sought.
"We go back to the state government and we say okay we've identified this number of people that want to be involved in this process of moving and relocating," said Ms Langman.
"The way I understand it we then go into a bucket of funding that is available and we make application when the time comes to relocate people.
"There's concern in Jugiong to ensure any proposal to lift or buy out flood prone homes does not depopulate the village."
© ABC 2013
15:02 EST Snow is falling in parts of Victoria that rarely see snow, as a cold snap grips the state's southern and central regions.