Officials Announce $1.77 Billion Plan for NYC Sandy Recovery

This morning U.S. Department of Housing and Urban Development Secretary Shaun Donovan joined Mayor Michael Bloomberg and Senator Chuck Schumer in announcing federal approval of New York City's plan for $1.77 billion in Hurricane Sandy recovery initiatives.

The money will be divided between housing recovery, business recovery, and infrastructure repair and renovation.  In each of those categories are funds for rebuilding and repairs, but also investments in economic growth in hard-hit areas as well as in new initiatives to prepare for future storms.

Senator Schumer emphasized the importance of investing in the latest technologies in the rebuilding and recovery process.

"They [homes and businesses] will be - if not storm proof - far more storm resistant."

Small business owners can begin applying for grants as soon as May 20.  Homeowners should be able to begin their application process early next month.  People are encouraged to visit NYC.gov for more information.