In 2011 Virginia legislation was passed designating living shorelines as the preferred alternative for stabilizing Virginia tidal floodplain shorelines. The Virginia Marine Resources Commission, in cooperation with the Virginia Department of Conservation and Recreation and with technical assistance from the Virginia Institute of Marine Science (VIMS), established and implemented a general permit regulation that authorizes and encourages the use of living shorelines however, no financial incentives were put in place to encourage consumers to choose living shorelines over traditional hardening projects in the Commonwealth.
Loans - Loans are available to assist homeowners in installing living shorelines on suitable properties. Loans up to $10,000 can be financed for up to 5 years (60 months). Loans over $10,000 to $35,000 can be financed for up to 10 years (120 months). Interest is 50% of the published Wall Street Journal Prime rate on the date of loan closing. Minimum loan amount is $1,000. The maximum loan amount is determined by income and ability to repay the loan.
Grants - Eligibility for grants, when available, will be determined by the guidance provided by the funder.