FEMA Advisory: FEMA Provides $200 Million in Additional Funding to Strengthen Communities Against Floods (December 5, 2024)

Federal Emergency Management Agency (FEMA) sent this bulletin at 12/05/2024 11:31 AM EST

FEMA Advisory - Dec. 5, 2024

FEMA Provides $200 Million in Additional Funding to Strengthen Communities Against Floods

FEMA has announced additional funding for a program making communities more resilient to flooding.

The agency is making available an additional $200 million in funding through Flood Mitigation Assistance’s FY 2024 Swift Current opportunity for states recently affected by flooding events. The agency previously announced $300 million in May, the third round of annual funding.

Today’s announcement brings the new amount available for this funding cycle to $500 million. Fifteen states and one territory have been set-aside funding for most of the amount announced in May. These funding set-asides can be viewed on FEMA.gov.

The additional funding reflects FEMA’s commitment to addressing the urgent needs of disaster survivors in the areas hardest hit by hurricanes Helene and Milton such as Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia. This funding ensures these places can recover faster.

States may receive set-asides in Swift Current funding for every flood-related presidential disaster declaration. This means states may receive multiple set-asides.

Swift Current aims to speed up the award of Flood Mitigation Assistance funding to states, territories, the District of Columbia and federally recognized tribal governments to reduce the damage-repair cycle of repetitively or substantially flood-damaged properties. Rather than through the annual Flood Mitigation Assistance grant cycle, Swift Current provides resiliency dollars after a major disaster declaration following a flood-related disaster event to reduce risk against future flood damage.

This opportunity complements other resilience funding available after a presidential disaster declaration, including the Hazard Mitigation Grant Program. The grant program is available to develop hazard mitigation plans and rebuild in ways that reduce future disaster losses in communities.

Examples of projects eligible for this funding include property acquisition and demolition, elevation, and relocation. To be eligible, buildings must be insured through the National Flood Insurance Program and have a history of repetitive or substantial damage from flooding.

The Bipartisan Infrastructure Law includes $3.5 billion in Flood Mitigation Assistance grants, including those for Swift Current funding opportunities, over five years through fiscal year 2026.

FEMA will work with states, territories, the District of Columbia and federally recognized Tribal Nations to explore their participation during this cycle. Potential applicants who have questions may contact their FEMA regional office. 

The application window opened on June 1, 2024, and the last eligible disaster declaration date is May 31, 2025. The updated funding opportunity is available on Grants.gov.

All applications must be submitted in FEMA Grants Outcomes (FEMA GO) and will be reviewed on a rolling basis. The application deadline date will be provided to the applicant. Applications received by FEMA after the deadline will not be considered for funding.  For more information, interested National Flood Insurance Program policyholders should contact their state or territory hazard mitigation officer.  

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