BATON ROUGE, La. (BRPROUD) — The Governor’s Office of Homeland Security and Emergency Preparedness (GOHSEP) started a project to reduce the impact of natural disasters.
In response to the Safeguard Tomorrow through Ongoing Risk Mitigation (STORM) Act, GOHSEP launched a state resilience revolving loan program and began urging locals to submit applications for potential funding before April 21, 2023.
The STORM Act became law on Jan. 1, 2021. The act authorized FEMA to provide capitalization grants 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 will allow local governments to reduce vulnerability to natural disasters, foster community resilience, and reduce disaster suffering. Loans are paid off no later than 20 years after the date of completion or 30 years for projects in a low-income area. Loan funding may be used with other federal grants.
“Finding ways to become more resilient is always a key goal for GOHSEP and our local
partners,” said GOHSEP Director Casey Tingle. “The STORM Act allows us to assist
with funding for projects local leaders have identified as key to reduce losses after a
natural disaster. This type of planning not only reduces risks to people and property, but
it also saves taxpayers money following flooding, a hurricane or other natural disaster.”
Click here to learn more about the STORM Act.
