An opportunity that may never come again was passed up by the Peachtree City Council Thursday night.

Council voted to withdraw from an $892,000 federal grant to mitigate recurring flooding problems at the Tinsley Mill Village condos just off Lake Peachtree.

The problem with the grant was that Tinsley Mill’s homeowners association was unable to raise the matching funds for the grant. The fund-raising fell short by $104,000.

The grant was offered by the Federal Emergency Management Agency, and city officials worry the city will no longer be considered for similar grants by FEMA.

The homeowners association asked the city to cancel the grant and release it from a $95,000 letter of credit.

A resident of the subdivision asked if the city could pay the matching funds for the grant. But City Manager Bernie McMullen noted that the city could not do so because it would make the city liable for any future flooding that might occur after the project is finished.

Councilwoman Cyndi Plunkett noted that would put the city at risk of perhaps having to purchase homes in Tinsley Mill Village if they flood after the project is constructed.

Tinsley Mill’s streets are privately owned and thus are not maintained by the city.

One Tinsley Mill resident complained that since he is paying an annual stormwater fee to the city, the city should be able to pick up the tab on the matching grant.