Institute climate adaptation trust funds in all three states

Adaptation Trust Funds (ATFs) should be established in New York, New Jersey, and Connecticut to fund high-priority projects that protect inhabitants against coastal or inland flooding. These funds would be independently managed by each state, but the ultimate oversight and authority to allocate funds would rest with an underwriting committee of the Regional Coastal Commission (RCC). The RCC would be responsible for soliciting and underwriting projects and programs that seek to advance resilience and adaptation. ATFs would be capitalized by a surcharge on a limited number of regulated lines of insurance. Over time, this revenue stream could support public bonds to finance larger infrastructure projects.