I can't think of a flood plain area in Bloomington. Nine mile creek? Down by the Minnesota? I lived on the river bluff, the spring we had a lot of rain, it flooded, I was surprised how close the river came. You will need flood insurance. It was on structure only, no personal property. I have owned 14 houses in fourteen locations. We had a house in Rochester, Minnesota, near bear creek. 7 inches of rain, creek overflowed it 's banks. Our basement was flooded, it was not finished. Insurance pays for cleaning, new furnace, any other structural damage. It would pay for carpet and drywall if finished. Here is the unknown about flooding, if you are in the way of the current or you basement is very tight, the house can be knocked off the foundation or it can collapse from the pressure. My neighbor's foundation collapsed, luckily it was only one side.
There are a lot of choices out there. Today's market will punished a house by up to 30% for a location problem.