Will Lackawanna ever be free of the mandatory "community participation" in FEMA's flood insurance program?

I located this from 12/4/06 in the council meeting minutes, but I haven't found anything more about it (unless I missed it).
http://www.ci.lackawanna.ny.us/minutes/120406.htm
scroll down to this heading: Hazard Mitigation Funds for Smokes Creek.