Yes, in three ways: FEMA can require relocation of a destroyed facility facing repetitive heavy damage, you can choose to relocate through an improved project, or a code may require relocation.
Damage history, cost comparison or benefit-cost analysis, land needs, and environmental review before acting at the original site.
If FEMA requires relocation and you don’t want it, an alternate project lets you use the funds elsewhere. Ask before rejecting the relocation.