Severe flooding and damage has been recorded at least 10 times in North East Valley since the late 1860s.
On Wednesday, councillors will consider a report looking at possible investigations to reduce the flood risk from Lindsay Creek on the suburb.
Science and resilience general manager Tom Dyer said comprehensive flood protection schemes for North East Valley had been considered previously due to community feedback and concerns about costs on residents.
But it was prudent to take a fresh look at the Lindsay Creek floodplain hazards and look at how to reduce the level of risk, he said.
"The flood hazard risk is higher than what is generally considered acceptable in New Zealand or elsewhere in Otago for an urban area, so we should regularly consider how best to manage mitigation."
The Lindsay Creek channel was actively managed by the council and some rockwork, a debris trap and concrete walls were being maintained.
The proposed investigations started this financial year will last until 2026-27, with a detailed assessment of the Lindsay Creek flood hazard including all sources of flooding, the effects of climate change, and how hazards like landslides might impact flooding.
This would then inform investigations to reduce the flood risk and the emergency flood responses, and could lead to a flood mitigation plan for the Lindsay Creek catchment.
Decisions were not expected until the 2027/28 year.
Depending on the decision made - which could be to maintain the status quo, focus on nature-based solutions or build a flood protection scheme - work could start the following financial year, Dyer said.
Lindsay Creek catchment involves a 12 square kilometre area with a 7km main channel, but most of the stormwater network in North East Valley goes into the creek.
It joins the Water of Leith at the Botanic Gardens after running south west from near Mount Cargill.