Biden-Harris Administration Announces $205 Million to Help Communities Address Impacts from Growing Flooding Threats

WASHINGTON -- As part of the Biden-Harris Administration's ongoing efforts to reduce flooding impacts, FEMA today announced that 12 states and one territory are eligible for up to $205 million in funding to reduce flood risks. The funding is available through the Fiscal Year 2024 Swift Current funding opportunity, totaling $300 million, made possible by President Biden's Bipartisan Infrastructure Law.

"Swift Current expedites funding to help communities build resilience against future flooding events," said FEMA Administrator Deanne Criswell. "The current application period is under-way and states and a territory who have experienced recent flooding disasters have already been approved. I look forward to working with our state, territorial, and tribal partners to leverage this critical federal funding to help flood-prone communities rebuild faster and more resilient."

Dedicated funding is distributed on a rolling basis to state, local, territorial and Tribal governments for projects after presidentially declared flood events. Eligible projects include property acquisition, demolition, elevation and relocation for buildings insured through the National Flood Insurance Program.

The amounts below have been set-aside to the following states and territory:

• Florida, $40 million
• Hawaii, $10 million
• Iowa, $20 million
• Minnesota, $10 million
• Mississippi, $10 million
• Missouri, $10 million
• Nebraska, $10 million
• New Hampshire, $20 million
• Puerto Rico, $5 million
• South Dakota, $10 million
• Tennessee, $10 million
• Texas, $40 million
• Vermont, $10 million

FEMA will distribute funding on a rolling basis as eligible applicants submit applications until the total available funding amount of $300 million is exhausted. These are the first activations for this funding cycle which closes in late-May 2025.

This is the third round of Swift Current funding. This announcement complements 22 applicants eligible for the $300 million Fiscal Year 2023 funding opportunity. In the first year of Swift Current, four applicants affected by Hurricane Ida were selected in a $60 million funding opportunity.

To strengthen America's climate resilience, President Biden secured more than $50 billion for climate resilience and adaptation through the Bipartisan Infrastructure Law and Inflation Reduction Act and established a National Climate Resilience Framework, which is advancing locally-tailored, community-driven climate resilience strategies. The funding announced today comes from the $3.5 billion provided for the Flood Mitigation Assistance program through the Bipartisan Infrastructure Law.

Swift Current is designed to get funding distributed as soon as possible after a declared flood-related disaster to help communities implement resilience activities to reduce their flood risk. This funding will support National Flood Insurance Program policyholders who have experienced repetitive or substantial flood-damage to eligible buildings. Each of the states had a presidentially declared major disaster related to flooding since June 2024.

FEMA continues to help build local capacity to withstand future events. The announcement comes during FEMA's National Resilience Month, which is focused on highlighting significant investments to help states, local and territorial governments and Tribal Nations build resilience. The announcement also aligns with the FEMA 2024 Year of Resilience theme to build local capacity to withstand tomorrow's hazards.

This announcement advances the President's Justice40 Initiative, which set a goal to deliver 40% of the overall benefits of certain federal investments to disadvantaged communities that have been marginalized by underinvestment and overburdened by pollution. Swift Current provides more equitable access to mitigation grants by increasing the federal cost share for eligible applicants above the standard 75% cost share up to 100% to support disadvantaged communities that often face challenges meeting their non-federal match.

FEMA will work with states, territories the District of Columbia, Tribal Nations and territories to explore their participation during the Fiscal Year 2024 application period. Potential applicants who have questions may contact their FEMA regional office, while interested subapplicants should contact their state or territory hazard mitigation officer.

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