Monday, July 28, 2014
Gov. Dannel P. Malloy today announced that shoreline homeowners and businesses subject to coastal flooding can now apply for assistance under a new state low-interest loan program designed to help those residents elevate their homes and businesses from future severe weather and flooding.
The program, Shore Up CT, provides financing for property owners in coastal municipalities located in Flood Zones VE and AE, as defined by the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP).
Formerly known as the Shoreline Resiliency Fund, the program was created by Malloy with particular focus on assisting residents who do not qualify for receiving federal disaster aid and would have to pay significant out-of-pocket expenses for the preventative upgrades, an announcement said.
“With continued severe weather impacting Connecticut,‘Shore Up CT is a forward-thinking approach to assist our state’s residents by taking action and fortifying our infrastructure before the next storm causes even greater damage to homes and businesses,” Malloy said.
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