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DeSantis Proposes $1 Billion Fund To Help Local Governments Adapt To Climate Change

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MATIAS J. OCNER MOCNER@MIAMIHERALD.COM
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The Miami Herald
Mickey Fox smokes a cigarette on Oct. 20, 2018, in front of what remains of the trailer in which he and his wife rode out Hurricane Michael in Callaway, Florida. The storm devastated the area, leaving tens of thousands without food, shelter or power.

Faced with mounting evidence that sea level rise and intensifying storms will cost Florida governments billions into the future, Gov. Ron DeSantis on Thursday announced a $1 billion investment over four years to allow local governments to build new infrastructure to address the impacts.

If the Legislature approves the new program, “Resilient Florida” will use revenues from the state documentary stamp tax to pay for the debt service on $1 billion in bonds for projects that address the impacts of climate change.

“The purpose of this is to tackle the challenges posed by flooding, intensifying storm events and sea level rise,” DeSantis said at a news conference to announce his proposal for a record $96.6 billion state budget.

Read more from our news partner at The Miami Herald.