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FEMA establishes Safeguarding Tomorrow Revolving Loan Fund

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    FEMA establishes Safeguarding Tomorrow Revolving Loan Fund

    On August 29, the Federal Emergency Management Agency (FEMA) announced that it will be releasing a Notice of Funding Opportunity (NOFO) for the Safeguarding Tomorrow Revolving Loan Fund program before the end of the 2022. The revolving loan fund was authorized under the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act which was signed into law in January 2021. The Bipartisan Infrastructure Law (BIL) provided $100 million annually for the program for the next five years. These funds provide hazard mitigation assistance for local governments to reduce risks from natural hazards and disasters.  

    Additionally, $50 million will be made available in capitalization grants for low-interest loans to local governments to reduce vulnerability to hazards and increase community resilience.

    FEMA plans to hold a series of listening sessions to gauge interest in the opportunity and barriers to implementing this program. NACo will update this blog once the dates and times of the listening sessions are published.

    NACo is also working on a webinar that will focus on the program and how counties can work with our partners in the state legislatures to develop these revolving loan funds. Examples of legislation passed in Louisiana and Maryland can be found below, along with a broader example of how to craft the legislation.

    • Louisiana legislation
    • Maryland legislation
    • Model legislation
    On August 29, the Federal Emergency Management Agency (FEMA) announced that it will be releasing a Notice of Funding Opportunity (NOFO) for the Safeguarding Tomorrow Revolving Loan Fund program before the end of the 2022.
    2022-09-19
    Blog
    2022-09-26
FEMA’s new Safeguarding Tomorrow Revolving Loan Fund will provide funding to states to establish revolving loan funds that counties can access for projects that reduce loss of life and property following a disaster The revolving loan fund will enable counties to bypass the federal grant application process, expediting local projects that can improve overall community resilience

On August 29, the Federal Emergency Management Agency (FEMA) announced that it will be releasing a Notice of Funding Opportunity (NOFO) for the Safeguarding Tomorrow Revolving Loan Fund program before the end of the 2022. The revolving loan fund was authorized under the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act which was signed into law in January 2021. The Bipartisan Infrastructure Law (BIL) provided $100 million annually for the program for the next five years. These funds provide hazard mitigation assistance for local governments to reduce risks from natural hazards and disasters.  

Additionally, $50 million will be made available in capitalization grants for low-interest loans to local governments to reduce vulnerability to hazards and increase community resilience.

FEMA plans to hold a series of listening sessions to gauge interest in the opportunity and barriers to implementing this program. NACo will update this blog once the dates and times of the listening sessions are published.

NACo is also working on a webinar that will focus on the program and how counties can work with our partners in the state legislatures to develop these revolving loan funds. Examples of legislation passed in Louisiana and Maryland can be found below, along with a broader example of how to craft the legislation.

About Brett Mattson (Full Bio)

Legislative Director – Justice & Public Safety | Gulf Coast Counties & Parishes Coalition

Brett joined NACo in May of 2018 and serves as legislative director for justice and public safety. In this role, Brett staffs NACo’s Justice and Public Safety Policy Steering Committee and works with county officials across the country to set organizational priorities and policies for justice and public safety issues that affect counties.

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    Resilient Counties Initiative

    The NACo Resilient Counties Initiative builds leadership capacity to identify and manage risk, and prepare counties to become more flexible and responsive to system shocks and stresses. It has a holistic approach to resilience, examining social and economic resilience, sustainability and disaster management.
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