$1.77 billion in federal grants will be invested in NYC rebuilding programs

This week, Mayor Michael Bloomberg announced that New York City plans to spend its initial allocation of $1.77 billion in federal Community Development Block Grants to address the most urgent housing, business and infrastructure needs in the neighborhoods hardest hit by Hurricane Sandy through eight new programs. The new programs fall into three categories of immediate need: housing recovery, business recovery and infrastructure resiliency.

"These funds will help New Yorkers who were the hardest hit by Sandy get back on their feet and help communities build back stronger and smarter," said Mayor Bloomberg. "This allocation is evidence of the great cooperation we've had in responding to and recovering from Sandy from every branch and arm of the Federal government."

The business-recovery initiatives are grants for resiliency measures, expanded loans and grants for businesses, and a competition for innovations in resiliency technologies. The housing recovery initiatives include rehabilitation grants for single-family homes, rehabilitation grants for multi-family homes and grants for resiliency efforts in public housing. The infrastructure resiliency initiatives are a competition for game-changing initiatives in neighborhoods and a competition for utilities to make resiliency investments.

"With this first $5.4 billion allocation, the work it took to pass the Sandy aid bill is starting to pay off," said Senator Charles Schumer. "We know there is desperate need and anxious waiting in the places hit by the storm, and we will be making sure that this money gets to homeowners, small business and communities as quickly as possible."

Read more about the programs at www.nyc.gov or by clicking here.

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