The sum of two hundred seventy five million dollars ($275,000,000) shall be available to the department for the following flood control projects:
(a) The inspection and evaluation of the integrity and capability of existing flood control project facilities and the development of an economically viable flood control rehabilitation plan.
(b) Improvement, construction, modification, and relocation of flood control levees, weirs, or bypasses including repair of critical bank and levee erosion.
(c) Projects to improve the department’s emergency response capability.
(d) Environmental mitigation and infrastructure relocation costs related to projects under this section.
(e) To the extent feasible, the department shall implement a multi-objective management approach for floodplains that would include, but not be limited to, increased flood protection, ecosystem restoration, and farmland protection.