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NSW Premier Chris Minns says that resources are standing by to help Lismore in the event that the levee overflows.
"We're ready in the event, in the possibility of it overflowing," Minns said today.
It comes as the latest Bureau of Meteorology (BoM) update on the Wilsons River says the water levels might remain below the levee that protects the CBD.
READ MORE: Alfred downgraded but 260,000 homes without power, flooding fears persist
"River levels are no longer expected to reach the height of the Lismore CBD levee (10.6 metres) during the afternoon," the BoM said.
Speaking from Lismore this afternoon, Minns said "there's an enormous amount of resources in town."
"It's close. In all candour, the latest models are it's right on 10.8 metres, which could be just under or just over in various parts.
"We hope that it's under but we've said right from the beginning of Cyclone Alfred that we would prepare for the worst and we would hope for the best.
"I think if you come through town, there's an enormous amount of resources in town and we're ready for the possibility of it overflowing."
Low-lying parts of the town have already been inundated.
Drone footage this morning showed the extent of the flooding.
Lismore locals are holding out hope that their homes will be spared.
READ MORE: Moment Alfred tears roof from Gold Coast home
Lismore resident said Vinny O'Dwyer said she was "Cautiously optimistic that perhaps the water won't go over the level."
"My house is in what we call the basin, so I'm on the safe side of the levee," she told Today.
"And it's been a very long week, if I could put it that way.
"We're packed and ready to go. Our escape plan is just around the corner."
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