I've asked questions of local emergency managers about the difference between this new program, post-disaster mitigation funding and the pre-disaster mitigation. The funding formulas are different as well as the percentages used to fund the programs.
I encourage you to read the interview and get a better understanding of BRIC, since you will have to be the expert in your organization/jurisdiction, BRIC Expanding the Concepts of Federal Pre-Disaster Mitigation.
The above interview was published in Emergency Management magazine.