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15 February 2019

Private Flood Insurance Market Rule Approved, Expected to Take Effect in July 2019

Five federal regulatory agencies have approved a long awaited final rule that makes it easier for mortgage lenders to accept private flood insurance policies. The agencies issued the rule in accordance with the Biggert-Waters Flood Insurance Reform Act of 2012, which required regulated institutions to accept certain private flood insurance policies in addition to National Flood Insurance Program (NFIP) policies.

 

The rule is expected to take effect on July 1, 2019.

 

Specifically, the new rule:

  • Will not require lenders to conduct their own review of a private policy if it contains a statement from the insurer certifying that it meets the statutory definition of “private flood insurance,” as established by the 2012 NFIP reauthorization law. Many lenders say they do not have the expertise to evaluate insurance policies during a home sale.
  • Will give banks more discretion to accept private insurance policies that do not meet the statutory definition of private flood insurance, subject to certain conditions. This allows them to continue to accept the multiple-peril policies that already insure many commercial properties.

 

The NFIP is the dominant provider of flood insurance in the U.S. For years, lawmakers have been looking for ways to expand the private flood insurance market to offer homeowners more coverage options, and hopefully to increase the number of homes covered by flood insurance. This rule is one way the federal government is hoping to help private insurers better access the flood insurance market, though Congress continues to consider legislation that will further promote private access to the market.

 

Regulators estimate that more than 300,000 policies in flood zones could be covered by private insurers as a result of the new rule, potentially tripling the current number of private flood insurance policies. FEMA has set a “moonshot” goal to double insurance coverage by 2023, and has acknowledged that this can only be achieved with an expanded private flood insurance market.

 

Read more here.

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10/30/2024

Grant Due: FY 2024 Vehicle Technologies Office Batteries Funding

FY 2024 Vehicle Technologies Office Batteries Funding

WHAT DOES IT FUND? This program advances research, development, demonstration, and deployment (RD&D) in several areas critical to achieving net-zero greenhouse gas (GHG) emissions by 2050, including: development of innovative battery chemistries and component materials, reduction of cascading battery fires, and battery electrode, cell, and pack manufacturing cost reduction. Click here for more information.

WHO'S ELIGIBLE? State and local governments, nonprofits, for-profits, institutions of higher education, and Indian Tribes 

TOTAL FUNDING AMOUNT? $42.9 million

WHEN'S IT DUE? October 30, 2024 (Full Application) 

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311
11/1/2024

Grant Due: FY 2024 Healthy Communities Grant Program (Region 1, New England)

FY 2024 Healthy Communities Grant Program (Region 1, New England)

WHAT DOES IT FUND? The purpose of this program is to fund direct work with communities to reduce environmental risks, protect and improve human health and improve quality of life. Click here for more information.

WHO'S ELIGIBLE? State and local governments, nonprofits, federally recognized Indian Tribal governments, K-12 schools or school districts, all which do not need to be within EPA Region 1 but must propose projects within that area

TOTAL FUNDING AMOUNT? $500,000

WHEN'S IT DUE? November 1, 2024

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11/7/2024

Grant Due: FY 2024 Offshore Wind National and Regional Research and Development

FY 2024 Offshore Wind National and Regional Research and Development

WHAT DOES IT FUND? The purpose of this program is to apply basic research, education/outreach, and feasibility study activities to be funded under this program will support the government-wide approach to the climate crisis by driving the innovation that can lead to the deployment of clean energy technologies. Click here for more information.

WHO'S ELIGIBLE? State and local governments, institutions of higher education, nonprofits, forprofit entities, and federally recognized Indian Tribes 

TOTAL FUNDING AMOUNT? $48.6 million

WHEN'S IT DUE? November 7, 2024 (Full Applications)

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11/14/2024

Grant Due: FY 2025 Service Area Competition (Third Solicitation)

FY 2025 Service Area Competition (Third Solicitation)

WHAT DOES IT FUND? This program ensures continuity of care in the communities and populations currently served by the Health Center Program. Click here for more information.

WHO'S ELIGIBLE? Special district governments, city or township governments, state governments, county governments, Native American tribal governments and organizations, urban Indian organizations, nonprofit organizations, and independent school districts

TOTAL FUNDING AMOUNT? $244.4 million

WHEN'S IT DUE? November 14, 2024 (EHBs)

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11/21/2024

Grant Due: FY 2024 Continuum of Care (CoC) Builds

FY 2024 Continuum of Care (CoC) Builds

WHAT DOES IT FUND? The purpose of this program is to target efforts within Continuum of Care (CoC) geographic areas to address and reduce persons experiencing homelessness by adding new units of permanent supportive housing (PSH) through new construction, acquisition, or rehabilitation through one-time awards under this program. Click here for more information.

WHO'S ELIGIBLE? State governments, county governments, city or township governments, special district governments, federally recognized Native American tribal governments, public housing authorities (PHAs)/Indian housing authorities, Native American tribal organizations (other than federally recognized tribal governments), and nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education, and faith-based organizations

TOTAL FUNDING AMOUNT? $175 million

WHEN'S IT DUE? November 21, 2024

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US Congressional Calendar

27 November 2023

TFG Presents 2024 Congressional Calendar

The Ferguson Group (TFG) compiled a 2024 Congressional Calendar with session and recess dates for the U.S. House of Representatives and U.S. Senate 118th congressional session. 

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Kristen H. Long Promoted to Grants Principal at TFG 24 July 2024

Kristen H. Long Promoted to Grants Principal at TFG

TFG strengthens leadership team amidst explosive growth in grants division.

COLUMBIA, S.C. – The TFG Grants Division is pleased to announce the promotion of Kristen H. Long to Grants Principal. Kristen has been an integral part of the TFG Grants Division since 2022.

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