The Federal Emergency Management Agency (FEMA) recently opened the application period for $1.1 billion in Flood Mitigation Assistance program funding.
The program funds community-led projects that reduce or eliminate the risk of repetitive flood damage to structures and buildings insured by the National Flood Insurance Program. There will be two grant opportunities. Both grants limit future National Flood Insurance Program expenses, prioritize projects that reduce future disaster recovery costs and enhance community resilience and reimburse applicants for flood mitigation activities and projects. The federal cost share is between 75 percent and 100 percent.
“Nobody understands their own unique flood risk better than individual communities,” Karen Evans, senior official performing the duties of the FEMA administrator, said. “These two critical FEMA funding opportunities will empower communities to make life-saving investments for their future while lowering future taxpayer costs.”
Funding is provided by the National Flood Insurance Fund and the Infrastructure Investment and Jobs Act.
Floods are the most common and costly type of natural disaster.
This funding opportunity was originally published last year and covers fiscal year 2024 funding opportunities for Flood Mitigation Assistance and Swift Current. It was revised to incorporate recent federal guidance, meet administration priorities and more wisely use taxpayer dollars.