REISTERSTOWN, MD (September 13, 2023) — Maryland is one of just eight states to receive capitalization grants from the Federal Emergency Management Agency (FEMA) as part of a groundbreaking new program to help communities reduce vulnerability to natural hazards and disasters. Maryland received a $6.5 million grant — the second highest award — under the Safeguarding Tomorrow Revolving Loan Fund Program.

Maryland joins seven other states receiving funds in the first round of this program, authorized under the Infrastructure Investment and Jobs Act of 2021, which appropriated $500 million over five years for the program. The program’s capitalization grants provide low-interest loans to local governments most in need of financial assistance, including low-income geographic areas and underserved communities.

“Maryland is at the forefront of mitigation, being one of the first eight recipients of these grants from FEMA,” stated Maryland Department of Emergency Management Secretary Russ Strickland. “This pioneering initiative equips our communities with a powerful tool to mitigate the impacts of natural hazards. These funds will also empower local partners to engage in hazard mitigation activities that might otherwise be financially out of reach.”

The State created the Resilient Maryland Revolving Loan Fund to administer this program. The money can be used to help finance a variety of projects designed to minimize the effects of natural hazards on communities and can also be used to help local governments pay their cost share of traditional federal hazard mitigation programs.

Here is more information about the Resilient Maryland Revolving Loan Fund. You can also learn more about the federal Safeguarding Tomorrow Revolving Loan fund.