$53.9 Million in Flood Protection Awards Highlights Importance of Virginia’s RGGI Reentry

WASHINGTON, D.C. – RealEstateRama – Flood prevention and protection projects across the state will receive a total of $53.9 million in awards using proceeds from Virginia’s participation in the Regional Greenhouse Gas Initiative, the Virginia Department of Conservation and Recreation (DCR) announced March 20.

This fourth round of grants and loans from the Community Flood Preparedness Fund (CFPF) includes localities from Petersburg to the Town of Chincoteague on the Eastern Shore to Buchanan County in Southwest Virginia and underscores the importance of Virginia’s reentry to RGGI.

RGGI, a multi-state carbon emissions reduction program, served as CFPF’s only consistent funding source. The governor’s budget included $100 million for CFPF, but the state’s?withdrawal from RGGI late last year effectively shut off the only steady statewide funding source for community-based climate resiliency projects. State lawmakers have included language in their budget to return Virginia to RGGI. That budget now awaits the governor’s approval.

According to DCR, the newly funded projects will expand flood prevention and protection work, capacity building, and planning and studies throughout the Commonwealth.

Jay Ford, the Chesapeake Bay Foundation’s Virginia Policy Manager, said in a statement:

“This fourth round of awards from the flood preparedness fund underscores the importance of Virginia’s RGGI participation. Communities across the state are urgently ramping up work to protect homes and businesses from flood risk and sea level rise with sustainable nature-based solutions. They deserve support for these projects. RGGI not only funded this work, but lowered the state’s carbon emissions. 

“We applaud this statewide support for flood prevention and protection projects. Virginia is taking steps to become a climate-ready Commonwealth, but floods and sea level rise are already on Virginians’ doorsteps. Schools are closing, streets are flooding, and businesses and lives are unnecessarily at risk. The state has a chance to change this reality and maintain essential support for climate change resilience by rejoining RGGI.”?