The Tennessee General Assembly provided rural communities with access to the funds they need to mitigate disasters this week. The Resilient Tennessee Revolving Loan Fund is a key step toward strengthening Tennessee communities against increasingly costly and deadly natural disasters.
Natural disasters have become a serious threat to the safety of Tennesseans. Over the past few years, tornadoes and floods have wreaked havoc on Tennessee communities from Memphis to Mountain City. Rural communities are often most at risk, and the Resilient Tennessee Revolving Loan Fund will help them identify and fund critical projects by providing access to federal funds.
“Because of the leadership and support of Governor Lee and the Tennessee General Assembly, local officials looking to finance projects that keep people and communities safe and reduce impacts of future storms will soon be able to access affordable ways to fund community mitigation,” said Patrick Sheehan, Director of the Tennessee Emergency Management Agency. “Enabling TEMA to administer the Resilient Tennessee Revolving Loan Fund demonstrates Tennessee’s steadfast commitment to supporting communities in their efforts to be more resilient.”
“The revolving loan fund presents a huge opportunity for Tennessee cities and counties by allowing TEMA to leverage federal funds and loan them to communities to match federal grants,” said Dwain Land, President of the Tennessee Renewable Energy and Economic Development Council and member of Protect Tennessee. “It empowers communities to afford the mitigation projects that they know they need, but previously couldn’t afford.”
“Communities across the U.S. are experiencing the consequences of more frequent and more severe disasters,” said Mathew Sanders, senior officer with the Pew Charitable Trusts and member of Protect Tennessee. “Tennesseans know this all too well, particularly after the devastating and deadly Waverly floods in 2021. When made law, the revolving loan fund represents important progress as part of a comprehensive approach to building resilience to future disasters.”
The Resilient Tennessee Revolving Loan Fund was established in 2023, and this year was authorized to begin operating thanks to a bill led by House Majority Leader William Lamberth and Senate Majority Leader Jack Johnson and championed by Governor Lee. With TEMA authorized to operate the fund, state and local leaders will have access to federal funds for collaborative resilience efforts across the state.
About Protect Tennessee:
Protect Tennessee, formerly known as Flood Ready Tennessee, is a coalition of local elected officials, experts, and citizens advocating for increased investments in resilience planning. Over the past two years, the coalition was focused on flood mitigation and now is looking to ensure that all communities have access to the resources they need to mitigate the effects of natural disasters.
Find out more at: protecttn.com
