FEMA Media Library
LFD Date: July 25, 2023
FIRM Effective Date: Jan. 25, 2024
For fiscal year 2023, FEMA has two funding opportunities, one for Flood Mitigation Assistance and one Swift Current. Swift Current focuses on streamlining funding for Individual Flood Mitigation Projects after a major disaster declaration with flooding, whereas the competitive Flood Mitigation Assistance funding opportunity has a broader range of flood mitigation activities and projects. This document has a side-by-side comparison of the key distinctions between these two funding opportunities.
Following a flood-related major disaster declaration, policyholders with repetitively and substantially flood damaged homes insured through the National Flood Insurance Program should consider learning more about the Flood Mitigation Assistance Swift Current funding opportunity. FEMA is making $300 million available to prioritize eligible projects including buyouts, structure elevations, and mitigation reconstruction for individual homes.