Sue Cashmore from the Cockermouth Flood Action group said:
"We would not have got the flood defences without this money.
"It may seem like a small amount in relation to the total but it was vital.
"We will all benefit from these defences and we are hoping it will mean insurance premiums will come down. At the moment at lot of people are being priced out of the market."
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It is now believed that 45-year-old Robert Cantle may have travelled in his car to the Jedburgh area on Sunday morning.
A Cumbrian man has been jailed for 15 years after a police crime unit seized its biggest ever haul of firearms.
The historic event always takes place on the last Friday in July.