ROANOKE, Va. – In a significant move to aid the recovery efforts from Hurricane Helene, Governor Glenn Youngkin is proposing a $127 million investment to establish a Disaster Assistance Fund.
The fund aims to help communities rebuild after Helene, especially areas that were hit hardest by the storm.
The fund comes from two sources, $102 million will come from the Regional Greenhouse Gas Initiative and $25 million will come from the State’s General Fund.
The new Disaster Assistance Fund will be a reserve fund in place to address unmet needs in our communities, filling in gaps that federal aid, private donations and insurance do not fully cover.
If passed the fund could be available later next year.
“I wish it came faster, but of course, the process of getting these bills passed, like what is happening in Washington today and tomorrow and over the weekend and of course our efforts at the state legislature, will make these funds available, but it will most likely happen in the first quarter,” Gov. Youngkin said.
This comes after Tuesday, when Congress introduced a $100 billion Disaster Relief Bill, which, if approved, would provide further funds for rebuilding, however, states and localities must match 25% of the cost for certain projects.
Governor Youngkin’s Disaster Assistance Fund will be reviewed during the 2025 General Assembly Session.