The plans examine how best to protect the town centre, harbour area and the Esplanade from sea and river flooding until 2094.
The Weymouth Town Centre and Harbour Defence Policy includes plans for a tidal barrier, new harbour walls and improvements to the Esplanade's sea defences and looks set to cost around £106 million over the next 80 years.
A Flood Vision document was drawn up by the former Weymouth & Portland Borough Council. It outlines how the town can be best protected from the risk of flooding.
Councillors are considering how this long term plan could be funded. Currently more than £50 million is likely to be available from various sources including central Government (DEFRA), the Environment Agency, the Dorset Local Economic Partnership, developer contributions and Dorset Council.
Councillor Ian Roebuck, as Environment and Sustainability Briefholder at the former Weymouth & Portland Borough Council, said:
We need to find the right long term solution to minimise the risk of flooding and help protect our community's homes and businesses. We need to draw up plans now to help protect our historic and beautiful town from the threat of climate change and flooding.
Councillor Jason Osborne, as Tourism and Culture Briefholder at the former Weymouth & Portland Borough Council, said:
It is clear we must find the right solution to help protect our wonderful town as much as we can from the risk of flooding. I am also mindful that we must try to develop a scheme which enhances the appearance of our attractive seafront and harbour.
It is likely that work on the harbour walls would be carried out first, followed by improvements to the Esplanade.