Thursday, March 20, 2014
Tired of waiting for federal funds for Storm Sandy devastated Connecticut shoreline properties, Gov. Dannel P. Malloy today urged the General Assembly to fund his proposed Shoreline Resiliency Fund.
He has submitted legislation to provide an authorization of up to $25 million to support the launch of the fund -– a low-interest loan program that will help residents who are subject to coastal flooding to elevate their homes and flood-proof their businesses.
While start-up costs to administer the program were approved in January, the fund cannot begin helping residents and businesses until it receives financing.
“The frequency of severe weather has been increasing, putting homes and businesses near Connecticut’s historic and valued shoreline at risk,” said Malloy, who made the announcement at an event at East Haven’s Cosey Beach.The neighborhood suffered a significant amount of damage from recent severe weather.
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