Eligibility Of Borrowers

(1) Application. In response to the Agency’s Request for Applications, Applicants shall submit an application on forms furnished by the Agency. Applicants shall list all possible Cost Share Loans with their application. (2) Revenue Source. Applicants must designate a specific revenue source to repay the Loan. (3) Approved Local Hazard Mitigation Plan. Applicants shall have a current Local Hazard Mitigation Plan that is approved by FEMA. (4) Projects. Applicants shall submit a Project that addresses Hazard Mitigation for one or more natural Hazards and Risks identified in the current State Hazard Mitigation Plan or any current Local Hazard Mitigation Plan. (5) Budget. Applicants shall submit a proposed budget amount that is less than the amount of funds available in the Fund and does not exceed the maximum award set in the STORM Act.