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Born in Branford: CT's New State Coastal Resiliency Reserve Fund Law

Pam Johnson
Created: 12/20/2019 - Updated: 12/20/2019

Abstract

In a demonstration of a municipal government working across the aisles locally and at the state level, the Town of Branford was the key to bringing about the state's new Municipal Climate Change and Coastal Resiliency Reserve Funds act signed into law by Gov. Ned Lamont in June and effective July 1, 2019. While the idea was born in Branford, the new law will benefit any town in the state with the ability to set up the fund.

As previously reported, in January 2019, based on the position that the impacts of climate change are a long-term liability, the Town of Branford set up a new Coastal Resiliency Fund, seeded with $1 million in town money. Going forward, the fund will receive a percentage of property tax annually (for 2020, the amount will be $300,000). 

Published On

Friday, July 19, 2019

Keywords

Sector Addressed: 
Economics
Policy
Type of Adaptation Action/Strategy: 
Governance and Policy
Maintain adequate financial resources for adaptation

Related Resources

Adaptation Phase: 
Planning
Sector Addressed: 
Economics
Summary: 

The Town of Branford, Connecticut created the Coastal Resiliency Fund in 2019. Branford believes that future exposure to and costs associated with climate change represent long-term liability that needs to be addressed through targeted funding and investment. The town will make annual appropriations to the fund and invest the assets using a long-term strategy.