Businesses and residents in Whaley Bridge will be able to access emergency government funding to help their recovery.
People in the Derbyshire town, which was evacuated amid fears a flood-damaged dam could collapse, can claim up to £100,000 each to cover uninsurable costs.
It comes as part of £5.25m in relief for flood-affected communities.
Parts of Lincolnshire and North Yorkshire will also receive support.
The Ministry of Housing, Communities and Local Government said it had activated the Bellwin scheme to reimburse local authorities for the immediate costs spent responding to the floods.
The funding will see £150,000 provided to High Peak Borough Council “to support their initiatives to help the recovery of the local economy” in Derbyshire.
Local authorities covering Wainfleet in Lincolnshire and Richmondshire will be able to claim back all of the money they have spent responding to recent flooding.
The Department for Environment, Food and Rural Affairs is also providing up to £2m to help farmers in those areas.
The Department for Transport also said it was investing £3m to rebuild two bridges in North Yorkshire, with North Yorkshire County Council receiving “one-off, exceptional funding” to rebuild bridges in Cogden Beck and Grinton.
Local Government Secretary Robert Jenrick said he was grateful for the work done by local authorities in responding to the floods, and praised residents “for the resilience they have shown during this worrying time”.