TRENTON – To conclude Climate Week, Governor Phil Murphy today announced that the Federal Emergency Management Agency (FEMA) selected New Jersey's application, awarding $15 million in funding to increase climate change preparedness and provide immediate relief to homeowners in the aftermath of a storm. New Jersey will provide a 10% match, about $1.5 million, as part of the award.

The selection, through FEMA’s Safeguarding Tomorrow Revolving Loan Fund (RLF) program, will allow New Jersey to make low-interest loans to local governments most in need of financial assistance, including low-income areas and underserved communities, for their hazard mitigation and resilience infrastructure needs.

“This award is essential to ensuring that our local communities have the tools they need to get ahead of the next disaster,” said Governor Murphy. “As our state experiences the growing intensity of storms and sea-level rise due to climate change, this program will allow us to increase available resources so we can provide prompt assistance to New Jerseyans. I’m grateful to the Biden-Harris Administration and New Jersey's congressional delegation for fully funding the STORM Act as part of the Bipartisan Infrastructure Law.”

The Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act established the STORM Revolving Loan Fund (RLF) to provide revolving loan funds to states, eligible federally recognized tribes, territories, and Washington, D.C. to finance projects that reduce risks from natural hazards and disasters.

Through the STORM RLF program, FEMA empowers these entities to make funding decisions and award loans directly. These revolving loan funds will help local governments carry out hazard mitigation projects that reduce disaster risks for communities, homeowners, businesses, and nonprofit organizations to build climate resilience.

“As we highlight Climate Week, it is important for us to address the ever-expanding impacts that climate change has on the communities we serve. Increased severe weather activity not just threatens an increase in costs-- it threatens lives,” said FEMA Region 2 Administrator David Warrington. “At FEMA, we take climate change seriously and understand that funding opportunities of this type are critical to building resilience against the damaging effects that can occur throughout the region. We remain committed to putting people first and value our partnership with New Jersey to help communities build capacity for years to come.”

“The new STORM RLF financing program highlights the significance our federal and State officials have placed on climate mitigation infrastructure projects in our neediest communities,” said Robert Briant, Jr., Chairperson of the I-Bank. “Working with FEMA, New Jersey now has one more tool to help these communities protect their residents and assets before the next disaster strikes.”

“This is a significant award for the state and provides an additional path to assist local governments and underserved communities,” said Colonel Patrick J. Callahan, Superintendent of the New Jersey State Police and State Director of Emergency Management. “As New Jersey continues to experience stronger storms, this resource allows us to offer yet another method to carry out mitigation projects and make our state even more resilient.” 

This second year of STORM Act funding to New Jersey represents the second highest cumulative award in the nation to date.

The funding was made possible by a partnership between the New Jersey Infrastructure Bank (I-Bank) and the New Jersey State Office of Emergency Management (NJOEM), within the Division of State Police, to apply for and administer funds to finance hazard mitigation projects in New Jersey through the New Jersey Community Hazard Assistance Mitigation Program (NJ CHAMP). Please contact the I-Bank at [email protected] for additional information.