GOHSEP invites Louisiana’s local governments to submit mitigation project proposals for the Safeguarding Tomorrow Revolving Loan Fund Program, due to GOHSEP April 21, 2023.
In response to the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act and the enabling legislation passed by Louisiana, Act No. 524, GOHSEP is launching its inaugural state resilience revolving loan program and encourages local jurisdictions to submit projects of interest for potential funding. This first year of the Louisiana STORM will reflect a small scale program. The STORM Act, which became law on January 1, 2021, authorized FEMA to provide capitalization grants to states, eligible federally recognized tribes, territories and the District of Columbia to establish revolving loan funds that provide hazard mitigation assistance through low interest loans to local governments to mitigate impacts from natural hazards.
These low interest loans (no more than 1%) will allow local governments to reduce vulnerability to natural disasters, foster greater community resilience and reduce disaster suffering. Loans are fully amortized not later than 20 years after the date the project is completed, or 30 years for projects in a low-income geographic area. Loan funding may be used in conjunction with other federal grants to develop stronger community-based projects and can be used to satisfy the non-federal cost share requirement for other hazard mitigation assistance (HMA) grants.
- Each local government project proposal submitted to GOHSEP must not exceed $5,000,000.
- GOHSEP will prioritize loan applications in accordance with Notice of Funding Opportunity programmatic and financial evaluation criteria, including considerations for projects that address underserved communities and promote equity.
GOHSEP is accepting project proposal lists now through April 21, 2023 at 12:00 (noon) CT using the
STORM Project Proposal Survey link provided here:
STORM Project Proposal Survey
Please complete one Survey for each project proposal you wish to submit for consideration. Project proposals will not be accepted after April 21, 2023.
For additional STORM information please visit:
GOHSEP Grants Resources
For assistance in accessing and/or submitting the survey, or for any other questions, please contact GOHSEP via email at [email protected].
