The funding — called the Swift Current Initiative — is designed to help homeowners upgrade or renovate their homes, relocate, or allow local and state governments to buy and demolish a home if it’s flooded too often.
“The Swift Current initiative represents FEMA’s commitment to quickly and equitably get risk mitigation funding to the communities that need it most,” FEMA administrator Deanne Criswell said in a statement. “President Biden’s bipartisan infrastructure bill made this program possible, and we are excited to continue our work to make our country stronger, safer and more resilient to future disasters.”
Vice President Kamala Harris will also discuss funding Monday during a trip to Sunset, Louisiana.
Of the total $60 million for the program, Louisiana will receive the vast majority of funding. The Gulf Coast state will receive $40 million, New Jersey will receive $10 million, and Mississippi and Pennsylvania will each receive $5 million.
The hurricane made landfall near Port Fourchon, about 10 miles southwest of Grand Isle, on Aug. 29, as a Category 4 with winds of up to 250 mph. The storm carved a destructive path through the south, after which its remnants swept into the northeast, causing deadly flooding.
However, the agency may expand the program to other states after it evaluates the effectiveness of the first round of funding. And more funding will become available in the coming months for flood control aid through FEMA’s annual grant application process, according to the agency’s factsheet.
FEMA says the Swift Current funding will align with the Biden administration’s Justice40 initiative, with 40% of the benefits going to underserved communities. While FEMA typically pays 75% of the cost to rebuild flood-prone homes, they provide a higher cost share of 90% for buildings in “socially vulnerable” communities struggling to meet their cost-share match.
For the agency’s flood relief utility, they offer a 100% federal match for properties with severe repetitive loss (properties that flood over and over) and 90% for properties with repetitive loss (insurable properties with two or more National Flood Insurance claims). Program over $1,000).
The application period opens on April 1 and closes on October 3.
CNN’s Rachel Ramirez contributed to this report.