Tag Archives: Sea level rise

Should Virginia Beach Buy Out Flood-Prone Properties at Fair Market Value?

by James A. Bacon

As Hurricane Dorian bears down on the South Atlantic Coast, the Virginian-Pilot reports that Virginia Beach officials are considering a program to buy out residents who want to move out of homes that have flooded or face a risk of flooding. The land would be converted into parks, planted with trees, or used as a flood-control projects.

That’s just one of the strategies city officials are pondering to deal with sea-level rise. The seal level in Hampton Roads has increased by a foot since the 1960s, and some climatologists claim that the rate of rise could accelerate. If the city does not take preventive action, writes the Pilot, a projected three-foot rise in the sea level could cost $330 million yearly by 2065.

The Virginia Beach plan would be based on a similar program in Charlotte-Mecklenburg, N.C., which spends $3.8 million yearly in voluntary acquisitions, funded through stormwater fees, to manage local floodplains. The city assesses which properties are the most vulnerable and targets those first. Continue reading