FEMA Releases $1.1 Billion in Flood Mitigation Funding Opportunities
FEMA announced $1.1 billion in new funding opportunities for states, territories and Tribal Nations to make their communities safer from flooding. The two funding opportunities — Flood Mitigation Assistance and Swift Current — will enable states to protect their communities from the devastating impact of floods while limiting future National Flood Insurance Program expenses.
Flood Mitigation Assistance – Under this program, FEMA is making available up to $600 million for states, local communities, Tribal Nations, and territories to reduce or eliminate the risk of repetitive flood damage to buildings insured under the National Flood Insurance Program. The April 30 announcement reflects the amended FY 2024 funding opportunity. Applications are due by Aug. 6, 2026. Communities should contact their state mitigation office for state-specific deadlines for submission, which will be earlier.
The FMA funding includes:
- Capability and capacity building activities subtotal: $60 million
- Localized flood risk reduction projects subtotal: $420 million
- Individual flood mitigation projects subtotal: $120 million
Learn more on Grants.gov
Swift Current – As a part of the FMA program, Swift Current provides funding after Presidentially declared flood disasters to expedite the delivery of mitigation awards. FEMA is making available up to $500 million for individual flood mitigation projects and scoping efforts that result in submission of individual flood mitigation projects for Repetitive Loss (RL), Severe Repetitive Loss (SRL), or Substantially Damaged (SD) properties. Structures eligible for individual flood mitigation projects must have an NFIP policy (including a Group Flood Insurance Policy, or GFIP) in effect prior to the opening of the application period and the policy must be maintained throughout the life of the structure. The availability window closes Dec 30, 2026 and application submission deadlines vary depending on FEMA activation, determined by the date of the major disaster declaration for the flood related event. As with other grants, communities should contact their state mitigation office for any state deadlines.