FEMA Announces $25 Million to Help New York and Puerto Rico Communities Address Impacts from Growing Flooding Threats

NEW YORK - As part of the Biden-Harris Administration's ongoing efforts to reduce flooding impacts, FEMA announced that New York is eligible for up to $20 million and Puerto Rico is eligible for $5 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 the Bipartisan Infrastructure Law.

"Swift Current, a Flood Mitigation Assistance initiative, allows FEMA to expedite funding to help communities build resilience against future flooding events," said Region 2 Administrator David Warrington. "As storms continue to intensify across the United States, accelerating flood mitigation dollars is critical to supporting disaster survivors after an event and better preparing communities for future events."

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.

Visit FEMA.gov for a full list of FY24 Swift Current activations.

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. Visit FEMA.gov for more information.

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. New York and Puerto Rico 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 aligns with the FEMA 2024 Year of Resilience theme to build local capacity to withstand tomorrow's hazards.

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.

As flood declarations occur through May 2025, FEMA will work with states, territories, the District of Columbia and Tribal Nations 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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FEMA's mission is helping people before, during, and after disasters.

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