Flood Mitigation

Each year, thousands of properties flood repeatedly nationwide. Often built before floodplain management regulations took effect, these properties continue to place a severe strain on the National Flood Insurance fund. FEMA has several financial assistance programs available to communities and interested property owners to acquire, retrofit, or fund other flood mitigation projects.

All these programs are managed through the State Division of Emergency Management’s Mitigation Program .

• The Flood Mitigation Assistance Program - A federal program that provides annual funding for projects to protect flooded structures that are insured by the National Flood Insurance Program.
• The Hazard Mitigation Program - A federal, post-disaster program that funds projects to protect public or private property from future disasters.

Another source of financial assistance available to a flood policy holder of a repetitive loss property is Increased Cost of Compliance funding. This rider on your flood policy provides additional coverage to help underwrite a flood mitigation project required by code as a condition to rebuild the damaged building. It can also help pay the non-federal portion of a cost-shared retrofitting project funded under the mitigation programs described above.

The reimbursement funding programs noted above require the local government to "sponsor" the applicant from the application stage through to the completion of the project.