With cities and communities on the front lines of rising seas, powerful hurricanes, and more intense downpours and heat waves, it is vital that Floridians prepare to withstand new threats in the 21st century. To tackle these problems, a new report from the Center for American Progress and the CLEO Institute suggests the creation of a “Florida Future Fund” to support infrastructure upgrades and flood protections that are necessary to make communities more resilient to climate change threats. The fund would combine private and public funding in order to build innovative transportation and energy infrastructure, flood protections, and other neighborhood improvements.
The Florida Future Fund would provide low-interest or interest-free loans and loan guarantees to projects, including investments in parks, the urban tree canopy, clean energy and smart grids. It would also support energy efficiency upgrades, expand local and regional transportation access, upgrade public transportation systems, and more. Successful implementation of such a fund in Florida could provide a blueprint to other states searching for ways to build resilience to climate change.
“Many Florida residents are unable to financially weather lost wages when floods block their path to work, or to pay for home repairs when stronger storms damage their homes,” said Cathleen Kelly, senior fellow for Energy and Environment at the Center for American Progress and a co-author of the report. “Even today, in low-income areas and communities of color, investment gaps in transportation services, energy efficiency improvements, and the tree canopy create steep barriers to economic opportunity and livable neighborhoods. By creating a fund to support more future-ready infrastructure, state leaders can build a Florida with good jobs, lower energy bills and a higher quality of life — even in the face of a changing climate”
“Climate change is already taking a toll on Florida’s economy, transportation and energy infrastructure,” said Yoca Arditi-Rocha, co-executive director of the CLEO Institute and a co-author of the report. “In the absence of federal leadership, the Florida Future Fund would help give our state control over its own destiny.”
