Community Hazard Assistance Mitigation Program

On May 25, 2023, Governor Phil Murphy signed into law the “Community Hazard Assistance Mitigation Program Revolving Loan Fund Act” (P.L. 2023, c.63) (C.58:11B-20.3 et al.) establishing the NJ CHAMP financing program to make low interest loans to finance eligible hazard mitigation and resilience projects undertaken by local government units and nonprofit organizations under the Federal Emergency Management Agency’s (“FEMA”) Safeguarding Tomorrow through Ongoing Risk Mitigation (“STORM”) Act, Pub. L. 116-284 (42 U.S.C. s. 5135), as amended or supplemented.