SAUGUS – Saugus could be in line for a big chunk of federal money to alleviate flooding in the Elm Street area of town, but it could mean removing the Elm Street bridge off of Central Street to fix the problem.Paul Ross of CDM Smith said there have been four “significant flooding events” in the area between 2001 and 2008. Because of this, the town applied for a grant from the Federal Emergency Management Agency.Selectmen discussed this same issue at a meeting last July, and on Tuesday, both Ross and grants consultant Paul Rupp said FEMA is about to act on the grant after rejecting Saugus? bid last year.?Basically it looks as though this is going to be funded and the town should hear soon,” said Rupp.Ross said the project would cost $1.2 million, with the grant covering 75 percent of that.Ross said the flooding is caused by two problems, an undersized culvert at the Elm Street bridge and an undersized drainage pipe dumping water into the river. Ross said when there is a severe storm, water backs up at the culvert while the undersized pipe continues to dump rain water into the river.Ross said the bridge removal plan is the only option because it meets FEMA?s “benefit cost ratio.”?Anything more expensive, you won?t get federal funding,” he said.Ross also noted that to replace the bridge would cost an additional $1 million.While the removal of the bridge would alleviate the problem, selectman Debra Panetta said she talked to neighbors in the area, who said they do not want the bridge removed.Panetta said there has been a “huge outcry” against removing the bridge and suggested a public meeting for input before “taking away their bridge.” Selectmen agreed to get more public input and will send out robocalls to notify residents.?We want to move forward, but we want to move forward in a way that?s best for all Saugonians,” said Panetta.Selectmen Vice Chairman Steve Castinetti agreed with Panetta and said people are “adamant that they don?t want that bridge to go.”The Elm Street bridge connects Elm Street to Central Street. Without it, residents would have to use Saville Street for access between the two roads.Ross said the money is “very competitive,” noting other cities and towns are “dying to get this money.”Ross also updated selectmen on the Lincoln Avenue reconstruction project and said work on the Revere portion, from Cliftondale Square to the Revere line, will start on Sept. 9.The project includes the entire road surface being excavated with new granite curbing and concrete sidewalks installed along with two 12-foot travel lanes with three-and-a-half foot shoulders.The project costs $1.6 million total which includes second portion from Spud?s to Ballard Street, which Ross said should start in the spring.Ross said the Revere portion should be completed by Thanksgiving, weather permitting.In other business, Ross said water mains will be replaced in the areas around Pratt Street, Fairmount Avenue, Boulder Road, King Street, Shore Road and Ernest Avenue this year.Town Manager Scott Crabtree also said all of the water main replacement on Route 1 has been replaced, except for one near the Hess gas station near Essex Street.