STORM Revolving Loan Fund

Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Revolving Loan Fund

The Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act became law on Jan. 1, 2021 and authorizes FEMA to provide capitalization grants to states, eligible federally recognized tribes, territories and the District of Columbia to establish revolving loan funds that provide hazard mitigation assistance for local governments to reduce risks from natural hazards and disasters. The Act amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act.

More information about the program is available on FEMAs website here.

On Dec. 20, 2022, FEMA released the Notice of Funding Opportunity (NOFO) making available $50 million for the new Safeguarding Tomorrow RLF program. Florida intends to submit an application to FEMA no later than April 28, 2023, pending state legislation. The funding opportunity is available here.