Tuesday, October 29, 2013
On the one-year anniversary of Storm Sandy striking Connecticut, Gov. Dannel P. Malloy today announced the creation of the Connecticut Shoreline Resiliency Fund.
He described it as a low-interest loan program for state residents who are subject to coastal flooding and would like to elevate their homes and flood-proof their businesses.
Malloy said the new program “will provide real, direct help to residents as they prepare for whatever Mother Nature has in store for the years ahead.
“It will allow homeowners and business owners to better protect their property without worrying about the restrictions and limitations they might face with similar federal programs,” he said.
Malloy said the fund may only be used for elevating homes and flood-proofing businesses, or elevating businesses as feasible and required by the National Flood Insurance Program (NFIP).
The Shoreline Resiliency Fund can be used to elevate or flood-proof secondary and primary single family homes, 1-4 unit owner-occupied rentals and businesses, and there is no income cap for applicants, he said.
Posted 10/29/13 at 03:42 PM Permalink