Financing Resilience in Connecticut Current Programs, National Models, and New Opportunities
At a Glance
Becoming resilient to the impacts of climate change and extreme weather in Connecticut has a price. To date, in Connecticut most of the dollars invested in resilient infrastructure have come from federal grants after a declared disaster, but grants alone will not cover the bill. This article reviews financing programs as an option for funding resilience. Existing programs in Connecticut for low-interest loans and special tax districts are already demonstrating that resilience financing is a real option. Using property assessed financing methods for clean energy and resilience, leveraging federal grant dollars to capitalize a resilience bank, and a new proposal for resilience bonds, offer models for potential resilience financing programs. But despite the significant potential gains to safety and solvency of investing in resilience, addressing challenges related to flood insurance, achieving neighborhood-scale resilience, and setting standards for resilient design and construction still remain. This article aims to educate Connecticut’s decision makers about options for resilience financing and how to address these challenges.