The Safeguarding Tomorrow Revolving Loan Fund (STORM) program offers low-interest loans to help local governments reduce flood risk and build long-term resilience. Funded through grants to states, tribes, territories, and D.C., the program supports flood mitigation efforts—like infrastructure upgrades or natural floodplain restoration and complements FEMA’s broader Hazard Mitigation Assistance portfolio by providing flexible, local financing to address recurring flood impacts.

	Supports nature-based solutions		Targeted support for small communities
	Has a regional or watershed focus

Application cycle: Feb 1, 2024 – April 30, 2024

Summary: The Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act enables states, territories, tribes, and D.C. to establish revolving loan funds that provide low-interest financing for local governments to carry out flood and hazard mitigation projects. For local governments, this means new access to flexible, affordable funding for critical resilience projects like stormwater upgrades, floodplain restoration, and building retrofits. For states and territories, the program offers a structure to support long-term, locally driven mitigation by capitalizing their own loan funds. Together, this model empowers jurisdictions to reduce vulnerability to disasters, scale up community resilience, and reduce long-term recovery costs.

Eligible applicants: U.S. States, territories, the District of Columbia, and federally recognized tribes with a major disaster declaration; eligible loan recipients include local governments, special districts, and tribal entities located within participating states or territories, all with an approved hazard mitigation plan.

Eligible activities: Floodplain restoration and wetland rehabilitation, stormwater management upgrades and green infrastructure, construction or repair of flood control structures (if brought to standard), drought and extreme heat mitigation (e.g., water reuse, cooling infrastructure), shoreline stabilization and erosion control, wildfire mitigation (e.g., defensible space, vegetation management), seismic retrofitting and earthquake resilience upgrades, implementation and enforcement of updated building codes, elevation, acquisition, or relocation of flood-prone structures, projects that serve as a non-federal cost share for other FEMA mitigation grants, and activities that align with the community’s approved Hazard Mitigation Plan.

Funding: $ 500,000,000 in total funding available over five years. As of FY 2024, FEMA has awarded $178 million in total funding, including $150 million in the most recent cycle, to help states, territories, and eligible tribal governments establish revolving loan funds for local hazard mitigation projects.

Cost share: A minimum 10% non-federal match is required

• Filter — Federal Fund Braiding: STRLF loans can legally cover a community’s ‘non-federal’ match for FEMA HMA (BRIC/FMA/HMGP) if the project meets both programs’ rules, so you can braid funds without violating match requirements.

Application process: 

• Cities and local governments cannot apply directly to FEMA for STORM program funding but may access low-interest loans by applying through their state’s revolving loan fund, once it has been established. To do so, cities should coordinate closely with their state’s emergency management or mitigation agency to ensure their proposed projects are included in the state’s application to FEMA. 
  • Project proposals must include an assessment of recurring vulnerabilities to life and property, demonstrate alignment with both local and state hazard mitigation plans, and reflect a systematic, regional approach to resilience, particularly in high-risk areas like floodplains, wetlands, or coastal zones. 
  • Cities should also be aware that the state is required to provide at least six weeks of public notice before submitting its final application to FEMA. Early engagement and preparation are key to ensuring cities can take full advantage of this funding opportunity to reduce disaster risk and strengthen long-term resilience.
  • Sub-applicants are encouraged to contact their state, territory, or tribal applicant as they may have earlier deadlines.
• Applications are to be submitted via Grants.gov, learn more about the STORM Act here.