VIRGINIA BEACH, Va. - The City of Virginia Beach is preparing to implement a citywide flood protection program after preliminary Election Day results show a majority of voters supported the $567.5 million bond referendum.
Phase 1 of the city's flood protection program will include 21 projects, the city said in a release. That includes accelerating flood protection projects currently underway, as well as several new projects.
The Phase 1 projects will be built over the next 10 years, which according to the city is much sooner than the current funding and schedule would allow.
“Virginia Beach residents understand the importance of taking more aggressive measures now to protect our communities from the effects of recurrent flooding,” said Mayor Robert M. "Bobby" Dyer. “Without the funding from this referendum, the completion of these projects would have taken 40 years to complete. This affirmative vote from citizens will allow the City to move forward on what is one of the most critical needs for our city.”
The city will pay off the bond debt over 20 years by increasing real estate taxes in the city. The average homeowner can expect an extra $10 to $14 a month in taxes.
According to the city, to offset the increase, the stormwater fee will be locked in at the current rate until 2028.