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.
US Supreme Court Rejects Trump’s Global Tariffs 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
Sompo Receives Regulatory Approvals to Acquire Aspen Insurance in $3.5B Deal 
Zurich Insurance Profit Beats Estimates as CEO Eyes Beazley 
