The Fiscal Year 2024 Flood Mitigation Assistance (FMA) Swift Current grant, offered by the Federal Emergency Management Agency (FEMA), is designed to streamline and accelerate the provision of mitigation funding to communities affected by flood-related disasters. The Swift Current initiative supports the broader objectives of the Flood Mitigation Assistance (FMA) program by providing federal funds to reduce or eliminate repetitive flood damage to buildings insured under the National Flood Insurance Program (NFIP). This funding opportunity seeks to enhance community resilience by enabling rapid mitigation actions in the aftermath of a disaster, ultimately reducing future losses and facilitating faster recovery.

The primary purpose of the Swift Current program is to address both acute flood events and long-term stressors that contribute to repetitive flood damage. It is intended to improve the post-disaster experience for survivors by making mitigation funding available sooner than traditional programs. The initiative supports communities participating in the NFIP and encourages proactive investment in resilience-building activities, such as structural improvements to flood-prone buildings. Through this program, FEMA aims to better align disaster recovery timelines with mitigation investments, thereby supporting both short- and long-term community adaptation to flood risks.

Funding under this opportunity may be used to implement a variety of natural hazard mitigation projects that are directly tied to reducing flood damage. While the exact number of awards is unspecified, the total program funding available is estimated at $500 million. This grant is a discretionary opportunity, and the category of funding activity is specifically focused on natural hazard mitigation.

Eligible applicants for this funding include state governments, federally recognized tribal governments, U.S. territories, and the District of Columbia. All applicants must be participants in the NFIP, and the funding is targeted toward areas that have recently experienced flood disasters. This eligibility structure ensures that those most vulnerable to recurrent flood impacts are prioritized for funding support. The program is not open to individuals or non-governmental entities directly but may benefit local communities through state or tribal applications.

Applications for this opportunity must be submitted through FEMA’s Grants Outcomes (GO) system, accessible at https://go.fema.gov/. There are no preliminary deadlines indicated before the closing date, which is set for January 15, 2026. The grant notice was most recently updated on March 25, 2025, with the original posting occurring on May 30, 2024. While this grant is not offered on a rolling basis, it is unclear if it will recur in future cycles.

Although specific evaluation criteria and application questions are not listed in the announcement, applicants are expected to align proposals with the overall objective of reducing NFIP-insured flood damage and enhancing resilience within NFIP-participating communities. The funding requires cost sharing or matching, though details regarding the matching ratio or amount are not provided. Interested applicants can contact the FEMA GO Help Desk at femago@fema.dhs.gov or by phone at 1-877-585-3242 for technical assistance and further clarification.