Low interest loans available to reduce risks from natural hazards and disasters

Low interest loans

LANSING – The Michigan State Police, Emergency Management and Homeland Security Division (MSP/EMHSD) is working to help local communities obtain low interest loans for projects designed to reduce risks from natural hazards and disasters.

Through the Safeguarding Tomorrow Revolving Loan Fund program, $150 million in federal funding is available in 2024.

The program, created by U.S. Senator Gary Peters’ Safeguarding Tomorrow Through Ongoing Risk Mitigation (STORM) Act, allows the Federal Emergency Management Agency (FEMA) to work with states and tribal governments to establish low interest loan funds for disaster mitigation.

The MSP/EMHSD must provide a project proposal list, generated from communities to FEMA to apply and is currently seeking proposals from communities to implement hazard mitigation projects. Interested communities are asked to complete an online project information form found here.

“Communities across Michigan are dealing with increasingly severe storms, extreme flooding and shoreline erosion,” said Senator Peters, Chairman of the Senate Homeland Security and Governmental Affairs Committee.

“I passed legislation creating the Safeguarding Tomorrow program to ensure that Michigan communities can get the federal assistance they need to invest in disaster mitigation projects. I’m grateful to the Michigan State Police, Emergency Management and Homeland Security Division for their work to ensure our communities can access these critical resources and protect against future natural disasters.” 

“Just within the last year we’ve seen the effects of natural disasters across our state in the form of flooding, wildfires, and severe weather,” said Capt. Kevin Sweeney, deputy state director of Emergency Management and commander of the MSP/EMHSD. “The Safeguarding Tomorrow Revolving Loan Fund program helps local governments invest in resilient infrastructure projects to keep residents and communities safe.”

Projects designed to reduce disaster risks for homeowners, businesses, nonprofit organizations, and communities from the impact of natural hazards are eligible for this program and may include:

  • Drought and prolonged episodes of intense heat.
  • Severe storms, tornadoes, and extreme winter weather.
  • Wildfires.
  • Earthquakes.
  • Flooding, including the construction, repair, or replacement of a non-Federal levee or other flood control structure.
  • Shoreline erosion, high water levels, and storm surges.
  • Zoning and land use planning changes.
  • Building code enforcement.

In 2023, the state of Michigan was selected to receive $5.1 million in funding from the Safeguarding Tomorrow program. The loan amount will be divided among approved community projects across the state.

Communities interested in applying must complete the online project information form located here by April 12, 2024.

For more information on how to prepare before, during and after an emergency or disaster, visit www.michigan.gov/miready or follow MSP/EMHSD on Twitter at @MichEMHS


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