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Virginia Started a Unique Climate Change Fund. 2 Years Later, It's Empty.
Governing: In the spring of 2016, former Gov. Terry McAuliffe signed a bill that gave Virginia a first-of-its-kind loan program.
Instead of just trying to mitigate current flood damage, the new revolving fund would help homeowners and businesses elevate their properties to prepare for sea level rise.
The legislation showed promise. It would not only save residents a fortune on their property, but also maintain ever-important tax revenues for local governments on the coast.
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