Funding Advances Biden-Harris Administration’s National Climate Resilience Framework
WASHINGTON -- Today, FEMA Administrator Deanne Criswell announced the third round of Swift Current funding, making $300 million available through President Biden’s Bipartisan Infrastructure Law to help National Flood Insurance Program policyholders across the nation become more resilient to flooding.
This funding makes $660 million that FEMA is using from President Biden’s Bipartisan Infrastructure Law for the Flood Mitigation Assistance program’s Swift Current opportunity. To strengthen America’s climate resilience, President Biden secured more than $50 billion for climate resilience and adaptation through the Bipartisan Infrastructure Law and Inflation Reduction Act and established a National Climate Resilience Framework, which is advancing locally tailored, community-driven climate resilience strategies.
“Though Swift Current is only two years old, it’s impact in flooded communities across America has already been substantial,” said Administrator Criswell. “Thanks to President Biden’s Bipartisan Infrastructure Law, we’re able to offer another $300 million to improve resilience in recently flooded communities. I encourage states, tribes, territories and localities across the nation take flood threats seriously and consider using Swift Current funding to better prepare your communities for future flooding events.”
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 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.
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 over five years through fiscal year 2026. As part of this funding, Swift Current will help communities reduce flood damage and comply with local community requirements. Swift Current advances the President’s Justice40 Initiative, which set a goal that 40% of the overall benefits of certain federal investments flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.
In alignment with the Flood Mitigation Assistance annual grant program, Swift Current provides more equitable access to mitigation grants through the Bipartisan Infrastructure Law. It offers tailored pre-application support to disadvantaged communities that often face challenges and provides cost share assistance up to 100% to help meet their non-federal match.
For the first Swift Current announcement in 2022, FEMA made available a total of $60 million to Louisiana, Mississippi, New Jersey and Pennsylvania -- after Hurricane Ida. For the second announcement in 2023, FEMA made available a total of $300 million and expanded criteria to benefit more places, which as of May 30, 2024, includes 19 states and one Tribal Nation.
This announcement follows similar criteria to the 2023 funding opportunity to increase the likelihood of eligibility. States, territories, the District of Columbia and federally recognized tribal governments will be eligible if they meet two criteria:
- They receive a major disaster declaration for a flood-related disaster event between June 1, 2024 - May 31, 2025. A flood-related disaster event includes coastal storms, hurricanes, remnants of hurricanes and floods.
- One of the following criteria must also be met:
- The state, territory or federally recognized tribal government has at least $1 million in National Flood Insurance Program (NFIP) flood insurance claims paid in the 12 months prior to the disaster declaration date.
- The state, territory, District of Columbia or federally recognized tribal government has 500 or more NFIP flood insurance claims submitted in the declared flood-related event.
- The applicant is a U.S. territory or a federally recognized tribal government applying directly to FEMA.
FEMA will give special consideration if the state, territory, District of Columbia or federally recognized tribal government receives a major disaster declaration for a flood-related event from June 1, 2024 - May 31, 2025, but does not meet any of the three additional conditions listed above. Refer to the Notice of Funding Opportunity (NOFO) for additional information and requirements.
FEMA will work with states, territories, District of Columbia and federally recognized tribal governments to explore their participation during this cycle. Potential applicants who have questions may contact their FEMA regional office.
The application window opens on June 1, 2024, and the last eligible disaster declaration date is May 31, 2025. The 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 NFIP policyholders should contact their state or territory hazard mitigation officer.