EDA FY25 Disaster Supplemental

<p><span style="color: rgb(19, 54, 92);">Through this Disaster NOFO, EDA will award investments in regions experiencing severe economic distress or other economic harm resulting from hurricanes, wildfires, tornadoes, floods, and other natural disasters occurring in calendar years 2023 and 2024. EDA’s goal under this NOFO is to assist communities recovering from a disaster by realizing opportunities to recover and change the economic trajectory of the community for the better. In other words, EDA funding seeks to help communities recover and set them on a path to exceed their previous pre-disaster baseline. EDA seeks projects that are responsive to community needs post-disaster by engaging all aspects of the community, with special focus on private industry partners. </span></p> <p><br></p> <p><span style="color: rgb(19, 54, 92);">This Disaster NOFO provides funding through three pathways:</span></p> <p><br></p> <p><span style="color: rgb(19, 54, 92);">Readiness Path – Standalone non-construction projects designed to increase a community’s readiness to apply for or implement disaster recovery funding from private and public sources including, but not limited to, future EDA NOFOs and the Implementation or Industry Transformation Paths under this NOFO. Projects will fund strategy development, capacity building, and/or predevelopment costs necessary for future recovery projects.</span></p> <p><br></p> <p><span style="color: rgb(19, 54, 92);">Implementation Path – Standalone construction or non-construction projects designed to address the economic challenges faced by a community recovering from a natural disaster and improve economic trajectories beyond pre-disaster economic conditions.</span></p> <p><br></p> <p><span style="color: rgb(19, 54, 92);">Industry Transformation Path – Led by a coalition of regional stakeholders, a portfolio of large-scale, multicomponent construction and non-construction projects designed to fundamentally transform the economic trajectory...