Representing the Board of Directors of Virginia Beach Vision, Inc., and its 130 senior business executives, we oppose the Commonwealth's withdrawal from RGGI without an alternative, dedicated, reliable, recurring funding source first being established to continue the Commonwealth's financial partnership with localities to support flood protection projects across the Commonwealth.

Governor Youngkin’s proposed one-time, General Fund allocation of $25 million, to provide loans, not grants, to help facilitate local protection projects, is not sufficient to meet this immediate, significant, and growing need. Recurrent flooding is a threat to the properties, lives, and economies of communities across the Commonwealth.  Cost estimates for protecting Hampton Roads alone from flooding and sea level rise exceed $40 billion. Addressing these challenges will require financial participation at all levels of government; local, state, and federal.

Since the state’s participation in RGGI began 18 months ago, Hampton Roads localities have received more than $51 million in project funding support.  On the southside, our cities have received:

• $27,463,800 to the City of Norfolk for the Ghent-Downtown-Harbor Park protection barrier system and other projects.
• $6,946,662 to the City of Virginia Beach for the First Colonial Road & Oceana Blvd. stormwater improvements.
• $1,345,358 to the City of Chesapeake for several projects including structural floodwalls, stormwater system upgrades, and creating a resiliency plan.
• $527,949 to the City of Portsmouth for data-driven and equity-driven resilience strategy.
• $282,990 to the City of Suffolk for the Finney Outfall to Nansemond River drainage area study and others.

Continued state funded grant support is critical to our cities and the Commonwealth’s economic future. At risk regionally are our military facilities, the Port of Virginia, the supply chain network, and the tourism industry.

Respectfully,

Martha S. McClees

Executive DIrector

Virginia Beach Vision, Inc.

5101 Cleveland Street, Suite 202

Virginia Beach, VA  23462