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GAO-25-107331 1 (February 24, 2025)

handle is hein.gao/dstrsilnc0001 and id is 1 raw text is: Why This Matters Key Takeaways Hurricanes, floods, wildfires, earthquakes and other natural disasters affect hundreds of American communities each year. Due to the rising number of natural disasters, there has been a growing emphasis on hazard mitigation projects, such as floodwalls and seismic retrofitting, as a way to prevent damage before it occurs. The Safeguarding Tomorrow through Ongoing Risk Mitigation Act (STORM Act), enacted in 2021, authorized the Federal Emergency Management Agency (FEMA) to award capitalization grants-seed funding-to help eligible states, territories, Tribes, and the District of Columbia (DC) establish revolving loan funds for mitigation assistance. In response, FEMA established the Safeguarding Tomorrow Revolving Loan Fund (RLF) grant program in 2022. RLF grant recipients provide loans to local governments or a sub-component of a local government for hazard mitigation projects that reduce community risks from natural disasters. The loans are intended for local governments most in need of assistance, including low-income geographic areas and underserved communities. The STORM Act includes a provision that we review FEMA's implementation of the RLF program. This report includes information on how the program works, the number of grants FEMA has awarded to-date, the guidance FEMA has developed for the program and whether program participants find it useful, how applicants select projects, and FEMA's efforts to assess program effectiveness. In September 2023, FEMA announced the first eight awardees (seven states and DC) selected to receive a combined $50 million from the RLF program. Seven awardees received their fiscal year 2023 awards in spring 2024. One awardee decided not to accept FEMA's award, in part due to unclear and incomplete guidance. In September 2024, FEMA announced 12 awardees selected to receive a combined $150 million for fiscal year 2024. Awardees determine what projects will receive loans based on the hazard mitigation needs of their communities. Projects FEMA reviewed during the fiscal year 2023 application process included projects intended to mitigate the impacts of hazards such as flooding, severe storms, and high winds. FEMA has shared information with and provided technical assistance to program participants covering various aspects of the RLF program. However, awardees we met with told us, and our review of FEMA documents confirmed, that the guidance was incomplete, unclear, and inconsistent. We recommend that FEMA ensure its RLF program guidance is complete, clear, and consistent, such as by updating its current Hazard Mitigation Assistance Page 1 GAO-25-1 07331 DISASTER RESILIENCE Page 1 GAO-25-107331 DISASTER RESILIENCE

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