Fiscal Year 2024 Safeguarding Tomorrow through Ongoing Risk Mitigation Revolving Loan Fund Program

The Fiscal Year 2024 Safeguarding Tomorrow through Ongoing Risk Mitigation Revolving Loan Fund Program aims to provide grants to capitalize revolving loan funds, which will be used to finance hazard mitigation projects and reduce risks from natural hazards and disasters. Eligible entities will establish a revolving loan fund to provide direct loans to local governments for projects that mitigate the impacts of various natural hazards. The program aligns with the goal of promoting resilience and adaptation in light of current risks, including those posed by climate change. Key aspects of the program include: • Eligible entities will use capitalization grants to establish a revolving loan fund. • The loan fund will provide direct loans to local governments for hazard mitigation projects. • Eligible activities may include the construction or modification of natural or built infrastructure to increase resilience and reduce risk of harm. • Entity loan funds will be programmatically and financially administered by the respective entity. • FEMA will monitor the administration of the entity loan funds during the period of performance and after the capitalization grant closeout.