Out of the $1.8 billion in federal aid New York City has received for repairs in the aftermath of Hurricane Sandy so far, it will spend about $300 million on protection from future storms. The state, in contrast, will spend just $30 million of its $1.7 billion federal aid package on so-called resiliency efforts.
The city is also spending roughly $650 million of its aid package on housing recovery, while the state is spending about $840 million on its housing recovery effort, but will target far fewer aid applicants.
City officials told the Wall Street Journal that it had difficult decisions to make on how best to help those affected, given limited funds.
“We’re trying to balance [priorities] in a way that is going to provide both the maximum amount of help to those hurt by the storm and the maximum amount of protection to New Yorkers in general,” Cas Holloway, deputy mayor for operations, told the newspaper.
The city is slated to receive a further $1.3 billion in federal funds, Holloway added. But officials from the city’s “Build it Back” program told the Journal it would need more than $2 billion to meet all homeowners’ needs. [WSJ] – Hiten Samtani