About the Project
CIRCA performed a literature review and developed a fact sheet that reviews existing resilience financing programs in Connecticut, as well as model programs that can be applied in the State. It aims to educate Connecticut’s municipalities, regulators, policymakers, and legislators on the need to collaborate on developing financing methods for resiliency, including innovative public-private partnership models, and adaption of existing public and private finance models for resiliency. These actions will proactively address flood insurance affordability and promote voluntary climate adaptation measures to reduce and avoid future losses (to life, property/casualty, property tax, critical infrastructure and business continuity). Most importantly, Connecticut needs these financing methods in place prior to the next natural disaster when motivation to rebuild resiliently is high. Developing effective financing methods for resiliency now will benefit vulnerable residents, natural ecosystems, businesses, and government (local, state, and federal). Investments in the short-term will create taxpayer savings for disaster recovery costs and lead to more affordable flood insurance over the long-term.
Fact Sheet: The fact sheet contains reviews of Shore Up Connecticut, Microgrids Program and Green Bank, Clean Water Revolving Loan Funds, Tax Increment Financing Districts, Connecticut Green Bank C-PACE and R-PACE, New Jersey Energy Resilience Bank, Energy Savings Performance Contracts (ESPCs) and Resilience Bonds.
Literature Review and Policy Analysis: The full literature review and policy analysis article, "Financing Resilience in Connecticut: Current Programs, National Models and New Opportunities" was published in the Sea Grant Law & Policy Journal in their August 2017 issue. The article is open access and available for free to the public to download.
Researchers and Staff Supported on Project
- Wayne Cobleigh, CPSM Vice President, GZA
- Yi Shi, Graduate Student, Yale School of Forestry and Environmental Studies