The Secretary shall give priority to a project for flood risk management if—
((1)) there is an executed project partnership agreement for the project; and
((2)) the project is located in an area—
((A)) with respect to which—
((i)) there has been a loss of life due to flood events; and
((ii)) the President has declared that a major disaster or emergency exists under ; or
((B)) that is at significant risk for catastrophic flooding.