Consistent with the legislative changes made in the Biggert-Waters Flood Insurance Reform Act of 2012 to the National Flood Insurance Act of 1968, cost share availability under FMA depends on the type of properties included in the subapplication. [341]
FEMA’s contributions to the federal share are outlined below:
- In the case of mitigation activities to severe repetitive loss structures, FEMA may contribute to an amount up to either of the following:
- 100% of all eligible costs if the activities are technically feasible and cost effective.
- The expected savings to the National Flood Insurance Fund from expected avoided damage through acquisition or relocation activities if the activities will eliminate future payments from the National Flood Insurance Fund for severe repetitive loss structures through an acquisition or relocation activity.
- In the case of mitigation activities to repetitive loss structures, FEMA may contribute to an amount up to 90% of all eligible costs.
- In the case of all other activities, FEMA may contribute to an amount up to 75%.
The appropriate year’s NOFO may contain additional information about cost share availability.
Structures with varying cost share requirements can be submitted in one application. Applicants must provide documentation in the project application showing how the final cost share was derived. Applicants must enter the final cost share into the electronic application system and attach documentation to the application showing how the final cost share was derived.