Notice of Intent to Publish a Notice of Funding Opportunity Announcement for the Safeguarding Tomorrow through Ongoing Risk Mitigation Revolving Loan Fund Program

Description

The Federal Emergency Management Agency (FEMA) is launching the Safeguarding Tomorrow through Ongoing Risk Mitigation Revolving Loan Fund Program (hereafter referred to as Safeguarding Tomorrow or STORM RLF Program). Through STORM RLF, FEMA will award capitalization grants to states, the District of Columbia, Puerto Rico, and Indian Tribal Governments for them to establish hazard mitigation revolving loan funds. Loans from a revolving loan fund may then be made to local governments to carry out hazard mitigation projects that reduce disaster risks for homeowners, businesses, nonprofit organizations, and communities. Loans may also be provided to satisfy a local government’s non-federal cost-share match for FEMA Hazard Mitigation Assistance programs. FEMA expects to publish a Notice of Funding Opportunity (NOFO) later this calendar year with an expected application deadline in the spring of 2023. FEMA intends to make available no less than $50 million through this first Safeguarding Tomorrow RLF Program NOFO. Over the next five (5) years, FEMA will issue additional NOFOs to award at least $472.5 million for hazard mitigation capitalization grants to establish revolving loan funds. Under the Infrastructure Investment and Jobs Act of 2021, also known as the Bipartisan Infrastructure Law (BIL), Congress has appropriated $500 million to the Safeguarding Tomorrow RLF Program, which includes program setup costs.This Notice of Intent (NOI) is being provided to allow potential applicants sufficient time to establish a revolving loan fund to be administered by the agency responsible for emergency management as required by 42 U.S.C. 5135(c). Some states may be able to rely upon existing loan mechanisms to satisfy this requirement. Further details will be informed by stakeholder engagement and announced in the notice of funding opportunity. This NOI also allows time for entities to develop an Intended Use Plan identifying the uses of the revolving loan fund as required by 42 U.S.C. 5135(g) and develop local government project proposals as required by 42 U.S.C. 5135(b). FEMA will require applications to include a project proposal request for which a public notice for comment was provided at least six (6) weeks prior to submitting a capitalization grant application and an Intended Use Plan. Capitalization grant recipients must be prepared, pursuant to 42 U.S.C. 5135(c)(4)(A), to deposit no less than 10 percent of the amount of the grant into the loan fund, as a condition of receiving funding.FEMA intends to launch the Safeguarding Tomorrow RLF program and over the coming months will work collaboratively with eligible entities to help them increase their capability by assisting with developing their Intended Use Plan and application to apply for a capitalization grant. These efforts are intended to support entities with complying with statutory requirements and increase entity participation with higher funding levels in future grant cycles.Stakeholder Engagement: Throughout the fall of 2022, FEMA will facilitate proactive stakeholder engagement and outreach focused on educating stakeholders on the development and implementation of this program. This outreach will focus on raising awareness with eligible entities that FEMA is providing them and important opportunity to provide low interest loans to help communities, especially disadvantaged communities, execute mitigation projects and increase access to other FEMA Hazard Mitigation Assistance grant program, thereby increasing their resilience to natural disasters. FEMA will leverage existing communication channels to request and solicit stakeholders' participation in varying engagement opportunities with state, local, and tribal governments and other interested organizations. FEMA will also host webinars and workshops for varied public and private stakeholders, including disadvantaged communities, and attend national conferences.FEMA intends to learn from stakeholders about how they plan to utilize the new program to develop a more effective and customer-focused program. We will be seeking input on entity capacity and capability to administer a revolving loan fund and will provide support where needed. These efforts will break down barriers and provide opportunities to work collaboratively across different levels of government to help increase the understanding and access to this new program. Agency outreach will include direct engagement with:· Other federal agencies;· State agencies;· Tribal governments; and,Other stakeholders, including potential loan recipients For program information and updates visit FEMA’s Safeguarding Tomorrow RLF program webpage at https://www.fema.gov/grants/mitigation/storm-rlf. Comments and recommendation on the design of the Safeguarding Tomorrow RLF program may be submitted to FEMA via email at FEMA-STORMRLF@fema.dhs.gov.

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