Growing Returns

Selected tag(s): virginia beach coast

Virginia Beach’s new flood bond can be a model for other cities. Here’s how.

Virginia Beach, the most populous city in the commonwealth with 38 miles of shoreline, faces increasing flood risk due to rising sea levels and more intense storms. Recurrent flooding hurts critical sectors including the military and tourism, both major contributors to the local economy. 

Fortunately, Virginia Beach voters took an important step to reduce flood risk in their community by passing a historic $567.5 million flood mitigation bond last month. This funding will not only reduce the city’s flood risk — it will also boost the economy and create thousands of jobs. 

As other cities across the country grapple with how to pay for the increasing costs of flood protection projects, here are four ways this bond serves as a model for success.  Read More »

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