Mayor Michael Bloomberg wants to spend federal Hurricane Sandy relief aid mostly on housing repairs, with a much smaller portion for businesses, as described in a report by Capital New York.
Thus far, the city only has plans for about $1 billion, with uses for the rest of the more than $700 million to be determined later, the report said. As for that billion, most of it will go to repairing homes, single-family homes, apartments, and public housing, Capital New York reported, while about $185 million will be spent on helping businesses recover from the storm.
The New York Post clarified that money from this stream of funds will only go to homeowners who have first exhausted aid from the Federal Emergency Management Administration and all insurance claims. About 80,000 homes in New York City require some kind of storm repair, the Post said.