Tags: nyc | sandy | storm | loss

Bloomberg: NYC Seeks $9.8 B in Aid for Sandy Storm Losses

Monday, 26 Nov 2012 12:51 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

New York City is seeking $9.8 billion in federal funds to repair infrastructure and recoup economic losses caused by Hurricane Sandy, Mayor Michael Bloomberg said.

Private insurance and reimbursements by the Federal Emergency Management Agency would pay only for $9.2 billion of the $19 billion in total public and private losses to the city from the superstorm, Bloomberg said in a letter to state Congress members. New York City’s request includes $5.7 billion in lost economic activity.

“This funding will be needed to address the significant local expenses that have been and will be incurred, including costs that are ineligible under FEMA such as hazard mitigation, long-term housing solutions, and shoreline restoration and protection,” Bloomberg said.

Sandy, the biggest Atlantic storm in history, pounded the most populous U.S. city on Oct. 29 with winds of as much as 100 miles (160 kilometers) an hour. The storm killed more than 40 people in the city’s five boroughs, left 10,000 homeless and flooded transit tunnels and underground utilities.

New York Governor Andrew Cuomo has estimated the total cost of the storm to the state at $33 billion and is seeking a special federal appropriation of about $30 billion to help the state recover. New Jersey Governor Chris Christie pegged the damage to the Garden State of $29.4 billion, while Connecticut Governor Dannel Malloy is projecting at least $360 million in damages.

Bloomberg is founder and majority owner of Bloomberg News parent Bloomberg LP.

 

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Pipeline Foes Condemn Neb. Congressman's Mock Playlist

Tuesday, 02 Sep 2014 19:28 PM

Nebraska Congressman Lee Terry is duking it out with oil pipeline fighters again, this time over a mock playlist Terry's . . .

Ex-CIA Agent: ISIS Is in America; Some Have Entered from Mexico

Tuesday, 02 Sep 2014 17:49 PM

Islamic State (ISIS) cells are already in the United States, and some of them have entered by crossing the Mexican borde . . .

Harvard Study: Marijuana Is Addictive Drug

Tuesday, 02 Sep 2014 17:06 PM

Many people believe that marijuana is not addictive, but a new study challenges that theory. . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved