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Press Releases

Governor Malloy Press Release Masthead
July 28, 2014
"Shore Up CT" Provides Low-Interest Loans to Elevate Homes and Businesses - Apply Now at
(HARTFORD, CT) - Governor Dannel P. Malloy today announced that shoreline homeowners and businesses who are subject to coastal flooding can now apply for assistance under a new state low-interest loan program designed to help those residents elevate their homes and businesses from future severe weather and flooding.
The program - " Shore Up CT " - provides financing for property owners in coastal municipalities located in Flood Zones VE and AE, as defined by the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP). Formerly known as the "Shoreline Resiliency Fund," the program was created by Governor Malloy with particular focus on assisting residents who do not qualify for receiving federal disaster aid and would have to pay significant out-of-pocket expenses for the preventative upgrades.
"With continued severe weather impacting Connecticut, 'Shore Up CT' is a forward-thinking approach to assist our state's residents by taking action and fortifying our infrastructure before the next storm causes even greater damage to homes and businesses," Governor Malloy said. "Preparing for and adapting to a changing environment is something we must address over the long term, and that's exactly what we're setting out to accomplish with this loan program."
Terms of the "Shore Up CT" loan are:
  • 2.75 % (3.027% APR) fixed interest rate;
  • 1% origination fee;
  • Borrow $10,000 to $300,000 with 15 year term;
  • No monthly principal or interest payments for the first 12 months;
  • Borrower must maintain property, hazard, and flood insurance for the life of the loan.

Eligible properties include:
  • Primary and secondary single family homes, or 1-4 unit owner-occupied rentals. Single-family homeowners must live in the property at least 14 days per year.
  • Businesses with fewer than 100 employees and in good standing with all state agencies.
  • Subject to coastal flooding and located in either Zone VE or Zone AE in coastline communities as defined by FEMA and NFIP.
  • These coastline municipalities are: Greenwich, Stamford, Darien, Norwalk, Westport, Fairfield, Bridgeport, Stratford, Milford, West Haven, New Haven, East Haven, Branford, Guilford, Madison, Clinton, Westbrook, Old Saybrook, Old Lyme, East Lyme, Waterford, New London, Groton, and Stonington.
  • Must be up-to-date with all local, state, and federal taxes.
For new elevation projects, properties must be elevated at least one foot above the 500-year flood height elevation. This must be calculated in accordance with the Connecticut Department of Energy and Environmental Protection's Guidance on Calculating the 500-year Flood Elevation in a FEMA Designated Coastal Flood Hazard Area issued in November.
Commercial structures must be elevated to the Base Flood Elevation with a freeboard clearance of at least one foot. The Base Flood Elevation for commercial structures is the 100-year Base Flood Event.
"Recognizing that it was essential to 'Shore Up CT,' Governor Malloy proposed a creative solution to fill the funding gaps left by the federal programs," said Evonne M. Klein, Commissioner of the Department of Housing. "This program allows home and business owners along Connecticut's shoreline an opportunity to fortify their properties against future storms."
Residents interested in applying for the loan program can now visit and begin the process of submitting an application over the internet. Additional information about the program can also be found on that website.
"Shore Up CT" is managed by the Housing Development Fund and funded by the Connecticut Department of Housing. To date, it has received $2 million in state bonding for start-up costs and an initial $3 million in bonding for the program. Earlier this year, the state legislature approved legislation authorizing up to $25 million in bonding for the program.
For Immediate Release: July 28, 2014
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