This article originally appeared in the Miami Herald on December 1, 2020 and was originally written by firm partner, Chad Friedman.
Local, state and federal officials recognize that sea-level rise presents a real danger to properties across Florida. Vulnerable areas have been identified and plans have been developed to address its effects. However, what is missing is a dedicated funding source to tackle this existential problem.
One possible solution is the creation of a resiliency utility. It would have the authority to adopt fees sufficient to plan, construct, operate, acquire and maintain systems identified in a master plan.
Funds could be collected on a property-tax bill and pledged to finance necessary capital improvements. Private entities could administer the utility to shift risk and create better efficiencies. The Florida Legislature should authorize this.
Local governments can plan for sea-level rise, but without a dedicated funding source, such plans will succumb, along with any structures, to the sea.
Chad represents developers and governmental entities in land use, zoning and general government matters. He is also a leader in the field of Property Assessed Clean Energy (PACE) programs.
To read the original article in the Miami Herald, click here.