Virginia has set up a new revolving loan fund designed to help property owners prepare for rising sea levels.
But the Virginian-Pilot reports that the fund has no funds and may not have any money for several years.
Still, Virginia Shoreline Resiliency Fund supporters say the program puts Virginia at the forefront of preparing for ways to help homeowners and businesses with rising sea levels.
The General Assembly approved the fund earlier this year and Gov. Terry McAuliffe signed the legislation into law.
The Hampton Roads area is prone to flooding and is considered at to be at considerable risk to the effects of climate change.
Topics Virginia
Was this article valuable?
Here are more articles you may enjoy.
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
NAIC Victim of Cyber Incident Via PeopleSoft System 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
