Peters' $500 Million Provision to Help Michigan Communities Address Shoreline Erosion and Flooding Signed into Law as Part of Bipartisan Infrastructure Bill

Press Release

A $500 million provision secured by U.S. Senator Gary Peters (D-MI), Chairman of the Homeland Security and Governmental Affairs Committee, to help communities address the impacts of natural disasters has been signed into law as a part of the bipartisan infrastructure bill. Peters secured the first funding for the loan program he created to help states establish revolving loan funds for local governments to carry out mitigation projects that reduce natural disaster risk. These projects could include upgrades to address extreme flooding, shoreline erosion and rising water levels that have put homes, small businesses, property, and communities at risk, and caused millions of dollars in damages. Peters authored the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act, which was signed into law earlier this year, to create this new loan program.

"Communities across Michigan are struggling with damage caused by increasingly severe storms, flooding and shoreline erosion, and we know these problems will only get worse with continuing climate change," said Senator Peters. "This funding will kick start my STORM Act loan program and give states and communities access to new opportunities to invest in major infrastructure upgrades from seawalls to stormwater drains that will protect residents, homes and small businesses from these disasters."

Severe storms, extreme flooding, rising water levels and high winds -- along with other factors driven by climate change -- are contributing to destructive natural disasters. Communities in Michigan and across the country are facing serious flooding, coastal erosion and high water level challenges that have destroyed homes and beaches and have even forced residents to relocate. Southeast Michigan faced severe flooding this summer that tragically led to two deaths, damaged small businesses and thousands of homes, and devastated families. The funding Peters secured for the loan program established by his STORM Act allows local governments to access critical funds to help mitigate the impact of natural disasters in a more cost-effective way. Studies have shown that resilience and mitigation spending saves taxpayers an average of $6 for every $1 invested.

Unlike existing Federal Emergency Management Agency (FEMA) grants, these low-interest loans would allow local governments to invest in resiliency and mitigation projects that reduce the effects of extreme flooding, shoreline erosion and rising and high water levels, along with other natural disasters. These loans would reach communities more quickly than FEMA's traditional grants, and provide local communities with the capital necessary to invest in more resilient infrastructure.

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