FEMA’s Flood Mitigation Assistance Swift Current program provides expedited, rolling funding to states, territories, and tribal governments for flood mitigation projects in disaster-declared areas, focusing on equitable, resilient, and nature-based solutions like home elevations, acquisitions, and dry floodproofing.

	Supports nature-based solutions		Requires a Major Disaster Declaration

Application cycle: Deadlines vary by applicant and depend on the specific disaster declaration date. Generally, applicants must apply within 120 calendar days of their eligibility period start date. All major disaster declarations of flood-related events that occurred between June 1, 2024 and May 31, 2025 are eligible to apply. The current application window closes on December 30, 2026.

Summary: Swift Current is a fast-track component of FEMA’s Flood Mitigation Assistance (FMA) program designed to provide expedited post-disaster funding outside the regular grant cycle. The program helps states, territories, tribal governments, and local communities reduce flood risk to NFIP-insured properties following major flood events. Unlike the broader annual FMA competition, Swift Current is limited to project scoping and individual flood mitigation projects for properties classified as Severe Repetitive Loss, Repetitive Loss, or Substantially Damaged. Eligible projects include property acquisition, structure elevation, dry floodproofing, and mitigation reconstruction, all aimed at reducing future flood risk and preventing repeated losses.

Eligible applicants: U.S. States, Territories and Federally recognized tribal governments. 

Eligible activities: Funds are available for projects tied to flood-related events (e.g., coastal storms, hurricanes, remnants of hurricanes, and floods) including acquisitions, structure elevation, dry floodproofing, and mitigation reconstruction. 

Funding: Total available funding for FY 2024: $500 million. Maximum set-aside per applicant: Up to $40 million based on NFIP flood insurance claims and disaster declarations. 

Cost share: 

• 75% federal and 25% non-federal. For U.S. territories, the non-federal share is waived if below $200,000. 

Application process: Interested applicants should work with State Hazard Mitigation Officers, FEMA Regional Offices or Tribal liaisons. Applications are submitted via FEMA’s Grants Outcomes (FEMA GO) system. Deadlines vary based on disaster declaration dates and FEMA guidance.