The town of Essex, Ontario reports that its Shoreline Assistance Loan Program has got off to a good start, with many local property owners showing interest in the loan.
The Shoreline Assistance Loan Program, designed to replace a similar provincial program that was discontinued in 2010, allows property owners who live along the shoreline to apply for a loan. Once approved, they can use the funds for repairs or for building infrastructure that prevents damage from erosion and flooding.
According to a press release from Essex, construction is underway for some eligible property owners who signed up for the program. CBC News reported that another 30 residents have also expressed their interest in the program, while four are in the application process.
Essex also detailed in its press release that the loan program is the first of its kind in its local region.
“It’s great to see so many property owners interested in the program,” said Essex mayor Larry Snively.
“As a council, we recognize that we have limited capacity to stop flooding and erosion, so this program provides residents a new option to protect their properties while limiting the financial burden on the town and its taxpayers.”
CBC News said that earlier this year, the Essex Region Conservation Authority (ERCA) had placed all of the shoreline areas withing the Essex region under an indefinite flood watch, citing record-breaking lake levels.
