Safeguarding Tomorrow Revolving Loan Fund Program Fiscal Year 2024 Selections

The Safeguarding Tomorrow Revolving Loan Fund (Safeguarding Tomorrow RLF) program is authorized under Section 205 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide capitalization grants to states, eligible federally recognized tribes, territories, and the District of Columbia to establish revolving loan funds that provide hazard mitigation assistance for local governments to reduce risks from natural hazards and disasters.

On Sept. 16, 2024, FEMA announced $150 million in capitalization grants for 12 applicants via the fiscal year (FY) 2024 Safeguarding Tomorrow Revolving Loan Fund (RLF) Program.

The Infrastructure Investments and Jobs Act (IIJA), commonly known as President Biden’s Bipartisan Infrastructure Law, provided $500 million to fund the Safeguarding Tomorrow RLF program through 2026. These investments will grow a more sustainable, resilient, and equitable economy by reaching local governments most in need of financial assistance, including low-income geographic areas and historically underserved communities.

Local governments may use capitalization grant funding through low-interest loans to make structures more resilient to natural hazards. This includes improving flood control, implementing changes in zoning and land-using planning needed to adapt to a changing climate, and enforcing adoption of resilient building codes.

Local governments may also apply the funding to satisfy their cost-share requirement for FEMA hazard mitigation assistance grants, lessening their financial burden to implement climate resilience activities. As these loans are paid back to the states, the funding can be used to finance additional mitigation projects, providing a sustainable local source of financing for protecting communities.

The Safeguarding Tomorrow RLF program provides maximum flexibility for the funding of mitigation projects, allowing local communities to use their own criteria for project prioritization. FEMA does not require the submission of a benefit-cost analysis for capitalization grants or loans to be used. This lessens the financial burden to local government to implement climate resilience activities.

As these loans are paid back, the funding can be used to finance additional mitigation projects, providing a sustainable local source of financing for protecting communities.

FEMA selected the following 12 applications for the fiscal year 2024 funding:

These selections are intended to tackle the climate crisis and strengthen the nation’s resilience, including low-income and underserved communities that are most vulnerable.

For additional information or to ask questions, grant applicants should contact their FEMA Regional Office.

FEMA received applications requesting over $293 million in capitalization grants to fund hazard mitigation projects in their communities; making the program oversubscribed nearly two times the $150 million made available. The oversubscription in requests for grant funding demonstrates the growing need for mitigation investments nationwide.  

Applicants were selected from seven out of 10 FEMA Regions. Seven applicants are receiving their second award from the Safeguarding Tomorrow RLF program and six, including one new tribe, are receiving their first award. Applicants worked with their local governments to solicit project proposals and determine which projects and activities to include within their grant application materials.

FEMA will bridge the lessons learned throughout the first two application cycles to enhance the program and increase access. The agency anticipates releasing the next funding opportunity later this fall with higher amounts to encourage participation. Applicants from this grant cycle will also be eligible to apply for funds made available in subsequent grant cycles.  

FEMA will continue to offer technical assistance through webinars, office hours, on-demand videos, website updates, and program support materials that are publicly available to assist and encourage existing and future applicants to participate and make use of this innovative program.