New London — City property owners are being invited to a meeting  at 7 p.m. Tuesday in City Hall's council chambers to learn more about the state's Shore Up CT program that offers low-interest loans in flood zones.

"This is a valuable state program for our coastal property owners," Mayor Michael Passero said in a statement. "These low interest loans can help shoreline residents make necessary improvements to protect their homes from coastal storms."

Shore Up CT loans are available to property owners in flood zones who want to finance higher property elevations. The loans, at an interest rate of 2.75 percent, are also available for flood protection and wind proofing.

So far, the state has loaned $1 million through the program to people in single-family homes as well as owners of one- to four-unit owner-occupied rentals and businesses in certain flood zones with fewer than 100 employees.

Representatives of the state Housing Development Fund will be available to answer questions about Shore Up CT. The program evolved as a way to help homeowners recovering from hurricanes Irene and Sandy while allowing others to anticipate future storms.

“Flood insurance premium prices are rising, future storms are coming, and there are serious concerns over decreased values for non-flood compliant properties,” said Emmeline Harrigan, Shore Up CT program manager, in a statement.

Funding from Shore Up CT can help with elevation projects that keep flood insurance premiums low while reducing storm-damage risks and ensuring property values are stable, she added.

Coastline communities in southeastern Connecticut that qualify for the program include Old Saybrook, Old Lyme, East Lyme, Waterford, New London, Groton and Stonington.

More information on the program is at http://shoreupct.org/.

l.howard@theday.com

Twitter: @KingstonLeeHow