FEMA Announces $300 Million in Swift Current Funding

ByNews Editor

A third round of Swift Current funding was announced May 30 with $300 million available. 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.

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. With the goal of decreasing future flood damage, Swift Current can provide resiliency dollars after a flood-related major disaster declaration instead of only within the normal Flood Mitigation Assistance grant cycle.  

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 help 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 – 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 opened June 1, 2024, and the last eligible disaster declaration date is May 31, 2025.

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