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New York's $1.8 billion for Sandy approved

Staff writer ▼ | May 13, 2013
New York City Mayor Michael R. Bloomberg announced that federal approval had been given to the city's plan for $1.77 billion for Hurricane Sandy recovery efforts.
New York City
New York CityNew York City Mayor Michael R. Bloomberg announced that federal approval had been given to the city's plan for $1.77 billion for Hurricane Sandy recovery efforts.


The City submitted its Community Development Block Grant Disaster Recovery Action Plan last month, which outlined its proposal to spend the initial Federal aid allocation on programs for housing recovery, business recovery, infrastructure and resiliency.

With this approval, the Federal funds can be released, allowing the City to launch its initiatives and extend relief to more New Yorkers in need, particularly home owners and small businesses with extensive damages and expenses.

Michael R. Bloomberg"The city took immediate action in the days following the storm, distributing millions of meals, repairing more than 20,000 homes and making tens of millions of dollars available for impacted businesses, and these Federal dollars will help us continue our recovery work to get home and business owners back on their feet," said Mayor Bloomberg.

The city's recovery programs fall into four categories: housing recovery, business recovery, infrastructure and resiliency.

On the housing recovery $648 million will be spend: $306 million for reconstruction of one- and two- family homes; $225 million for repair and reconstruction projects in multi-family buildings; $108 million for resiliency improvements to public housing; and $9 million for up to 24 months of rental assistance for families displaced by Hurricane Sandy.

Business recovery efforts will get $293 million: $72 million for business loans and grants; $90 million for investments in business resiliency; $90 million for "Game-Changer Investment Competition" to reward innovative ideas for spurring economic development in hard hit areas; and $41 million for a competition to develop resilient technologies.

The City will extend $360 million to repair City infrastructure damaged by the storm, and for City services set up in the response and recovery work. The City has set aside $294 million for resiliency investments to be detailed in a report issued by the Special Initiative for Rebuilding and Resiliency later this month. Finally, per Federal requirements, $177 million has been allocated for planning and administration of the City's recovery programs.


 

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