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Financial Resources

FEMA manages several grant programs designed to fund local projects that will minimize loss of life and property damage.  PLEASE NOTE that the programs are highly competitive and that not all properties are appropriate candidates.  For example, the State of Florida was allowed to submit only two grant applications for the Pre-Disaster Mitigation Program (PDM).  These applications were put into a pool with those of the 49 other states and US territories for the limited $13,000,000+ available. 

The most likely source of funding available following a FEMA-declared disaster is a no-interest loan from the Small Business Administration (SBA).  

Small Business Administration (SBA) Low-Interest Loan https://www.sba.gov/content/home-and-personal-property-loans  Homeowners may apply for up to $200,000 to replace or repair their primary residence. The loans may not be used to upgrade homes or make additions, unless required by local building code. If you make improvements that help prevent the risk of future property damage caused by a similar disaster, you may be eligible for up to a 20 percent loan amount increase above the real estate damage, as verified by the SBA. 

In some cases, SBA can refinance all or part of a previous mortgage when the applicant does not have credit available elsewhere and has suffered substantial disaster damage not covered by insurance.  Renters and homeowners may borrow up to $40,000 to replace or repair personal property — such as clothing, furniture, cars and appliances — damaged or destroyed in a disaster. 

Flood Mitigation Assistance Program (FMA)  https://www.fema.gov/flood-mitigation-assistance-program  FMA is administered in the State of Florida by the Department of Community Affairs, Division of Emergency Management.  Each year, FEMA provides funding to the State for projects, such as elevation of existing structures, for projects that reduce or eliminate the long-term risks of flood damage to buildings, homes and other structures insured under the NFIP.  

FMA was designed to reduce or eliminate claims made under the NFIP; and to reduce or eliminate the number of repetitive loss structures in the State of Florida.  The FMAP is a cost reimbursement program in which up to 75% of the eligible projects costs may be reimburse if your application is accepted and approved.

 Hazard Mitigation Grant Program (HMGP) https://www.fema.gov/hazard-mitigation-grant-program FEMA provides grants to States and local governments to implement long-term hazard mitigation measures after a major disaster declaration. The purpose of the program is to reduce the loss of life and property due to natural disasters and to enable mitigation measures to be implemented during the immediate recovery from a disaster.

Pre-Disaster Mitigation Program (PDM)
https://www.fema.gov/pre-disaster-mitigation-grant-program The Pre-Disaster Mitigation (PDM) program provides funds t for hazard mitigation planning and the implementation of mitigation projects prior to a disaster event. Funding these plans and projects reduces overall risks to the population and structures, while also reducing reliance on funding from actual disaster declarations. PDM grants are to be awarded on a competitive basis and without reference to state allocations, quotas, or other formula-based allocation of funds.  .

Most of the FEMA grants provide 75% of the cost of the covered elements of a project. As a rule, the owner is expected to fund the other 25%

Each program has a different Congressional authorization and slightly different rules.  For additional information please contact the Resident Information Center/Customer Service at (727) 847-2411.