The Bipartisan Infrastructure Law established both the PROTECT Formula and Discretionary Grant Programs. The PROTECT Discretionary Grants Program funds projects on a competitive basis that address the climate crisis by … Read more
This program provides funding to mitigate flood-related disaster impacts on buildings insured through the National Flood Insurance Program (NFIP). Swift Current started as a pilot program in FY22 and initially provided funding to four states affected by Hurricane Ida, but will now be expanding its reach to additional states.
Eligible Uses
Swift Current provides funds for Individual Flood Mitigation Projects for Flood Mitigation Assistance and/or NFIP-defined Repetitive Loss (RL), Severe Repetitive Loss (SRL), or properties deemed Substantially Damaged after the applicant’s disaster declaration date. Eligible individual flood mitigation projects include property acquisition and structure demolition/relocation, structure elevation, dry proofing of historical residential structures or non-residential structures, non-structural retrofitting of existing buildings and facilities, mitigation reconstruction, and structural retrofitting of existing buildings.
Eligible Recipients
Structures included in Individual Flood Mitigation Project sub-applications must be Flood Mitigation Assistance and/or NFIP-defined Repetitive Loss (RL), Severe Repetitive Loss (SRL), or properties deemed Substantially Damaged after the applicant’s disaster declaration date.
- Buildings identified in the sub-application must have a NFIP policy in effect at the application start date and must maintain it through the completion of the flood hazard mitigation activity and for the life of the structure.
- Buildings included in the Individual Flood Mitigation Project sub-applications must be Flood Mitigation Assistance and/or NFIP-defined Severe Repetitive Loss properties, Repetitive Loss properties, or properties that were deemed Substantially Damaged after the applicant’s disaster declaration date. See FEMA’s chart for more information on definitions.
Approx Annual Funding Amount
$300 million will be provided for the next round of FY23 projects, funded through the Bipartisan Infrastructure Law.
Cost Share Requirements
FEMA-defined Severe Repetitive Loss properties will receive up to 100% federal cost share funding. FEMA-defined Repetitive Loss properties will receive up to 90% federal cost share funding. NFIP-insured properties located within a census tract with a Centers for Disease Control and Prevention (CDC) Social Vulnerability Index (SVI) score not less than 0.5001 will receive up to 90% federal cost share. All other properties will receive up to a 75% federal cost share.
Application Cycle
- Applications Open: November 15, 2023
- Disaster Declaration deadline: May 31, 2023
- Applications Close: Depends on the activation criteria met and disaster declaration date. Sub-applicants should consult with their applicant agency to confirm sub-application deadlines.
Contact
State Hazard Mitigation Officers
Other Info
This program is covered under the Justice40 Initiative.
