New Jersey Governor Phil Murphy announced that the state will receive $15 million from the Federal Emergency Management Agency (FEMA) to increase climate change preparedness and provide immediate relief to homeowners in the aftermath of a storm. The funding, awarded through FEMA’s Safeguarding Tomorrow Revolving Loan Fund (RLF) program, will allow New Jersey to make low-interest loans to local governments and low-income areas for their hazard mitigation and resilience infrastructure needs. New Jersey will provide a 10% match, about $1.5 million, as part of the award.
According to the Governor's office, the funding will ensure that local communities have the tools they need to get ahead of the next disaster. As the state experiences the growing intensity of storms and sea-level rise due to climate change, this program will increase available resources to provide prompt assistance to New Jersey residents.
The Safeguarding Tomorrow RLF program, authorized under Section 205 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, provides capitalization grants to states, eligible federally recognized tribes, territories, and the District of Columbia to establish revolving loan funds that provide hazard mitigation assistance for local governments to reduce risks from natural hazards and disasters. FEMA's website states that these low-interest loans will allow jurisdictions to reduce vulnerability to natural disasters, foster greater community resilience, and reduce disaster suffering.