FEMA Announces Intent to Open $50M for New Resiliency State Revolving Loan Fund
Eligible applicants: states, District of Columbia, territories, *. Applications are due: April 28, 2023
Announcement Type: Notice of Intent (this program is not yet accepting applications)
Opportunity: Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Revolving Loan Fund (RLF)
Overview and Eligible Uses: This new program will provide grants to states to capitalize revolving loan funds (RLFs) administered emergency management agencies to provide low-interest loans to local governments for hazard mitigation and resiliency projects intended to minimize the risks of natural disasters. Local governments can use loans to meet the non-federal cost share requirements of FEMA’s Hazard Mitigation grants, for which they are required to provide a cost-share of up to 25%.
The IIJA dedicated $500M to this program over five years. This represents the first round of funding to be made available.
Amount: $50M
Award Type: Grants to states to capitalize RLFs, which then make low-interest loans to local governments.
Eligible Applicants: States, District of Columbia, Puerto Rico, and Tribal Governments that have had a major disaster declaration since 2016.
Key Dates: The program will begin accepting applications February 1, 2023, and the estimated due date for applications is April 28, 2023.
Key Links:
For a full list of currently available grant programs under the Infrastructure Law and other helpful tools, take a look at our Helpful Resources page.
This tracker will continue to send updates when new funding opportunities are announced.