Summary
This notice of funding opportunity (nofo) is issued by the u.s. economic development administration (eda) for fiscal year 2025, specifically targeting disaster recovery efforts.
the eda is offering a total of $1.447 billion in funding to support communities affected by natural disasters such as hurricanes, wildfires, and severe storms that occurred in 2023 and 2024.
the funding will be available through three distinct pathways:
- the readiness path
- the implementation path
- the industry transformation path
applications for the readiness and implementation paths can be submitted on a rolling basis, while those for the industry transformation path must be submitted by March 3, 2025.
eligible applicants include various governmental entities, educational institutions, nonprofit organizations, and public-private partnerships; however, individuals and for-profit entities are not eligible for funding.
the eda generally expects to cover up to 80% of eligible project costs but may consider funding up to 100% under certain circumstances.
projects funded under this nofo are intended to enhance long-term economic recovery strategies through both construction and non-construction initiatives aimed at revitalizing communities impacted by disasters.
applicants are encouraged to engage with local eda representatives for guidance on project development and application requirements.