Malloy Announces New Fund for Shoreline Residents - NBC Connecticut

Malloy Announces New Fund for Shoreline Residents



    Malloy Announces New Fund for Shoreline Residents

    Shoreline victims still struggling to rebuild after Sandy are now receiving additional funding from the state.

    On Tuesday, Gov. Dannel Malloy announced the creation of a new fund for residents who are subject to coastal flooding and for those who would like to elevate their homes and flood-proof their business.

    "On the one-year anniversary of Super Storm Sandy, this new Shoreline Resiliency Fund 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," Malloy said.

    Homes and businesses eligible for the loan must be located in either Zone VE or Cosatal Zone AE as defined by the Federal Emergency Management Agency (FEMA) and 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.

    Malloy said the Connecticut Shoreline Resiliency Fund will give homeowners an opportunity to elevate their homes in an affordable manner, and become safer in the process.

    For more on the Connecticut Resiliency Fund click here.