The New York State Division of Homeland Security and Emergency Services (DHSES) has introduced a funding opportunity for local governments through the Federal Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act. The program, which is managed by FEMA, offers states capitalization grants that are used to provide low-interest loans to counties, cities, towns, villages, and other political subdivisions.
The funds in New York support the Hazard Mitigation Revolving Loan Fund (HM RLF) Program. This initiative aims to help communities become more resilient against natural hazards. Local governments can access loans at interest rates of 1% or less, with repayment starting one year after the completion of their projects.
According to DHSES, “These funds may be used to carry out a variety of hazard mitigation projects, including covering the local match required for federal hazard mitigation grants. Unlike many FEMA programs, the HM RLF does not require a passing Benefit-Cost Analysis (BCA), opening the door for communities to fund important projects that might otherwise be ineligible.”
For fiscal year 2023, the HM RLF award totals $6,235,802.
To qualify for this funding opportunity, applicants must be a local government entity and have a current FEMA-approved multi-jurisdictional Hazard Mitigation Plan. Proposed projects need to align with FEMA Hazard Mitigation Assistance Guidance. Additionally, loan recipients must identify a dedicated revenue source for repayment.
Loan applications are accepted on a rolling basis and reviewed quarterly until all funds are awarded. Priority is given based on eligibility and how well applications align with New York’s Intended Use Plan for the HM RLF.
Local governments interested in applying should submit an RLF Interest Form via email to HazardMitigationRLF@dhses.ny.gov. DHSES also encourages counties and municipalities to share information about this opportunity with other eligible government entities within their jurisdiction.
Further details about eligibility requirements and application instructions can be found on the Hazard Mitigation Revolving Loan Fund section of the NYS DHSES website.
For questions regarding this funding opportunity, contact DHSES Hazard Mitigation at HazardMitigationRLF@dhses.ny.gov.
