New York City Publishes Sandy Action Plan

The City of New York published its Action Plan to allocate $1.77 billion in Hurricane Sandy authorized Community Development Block Grants to the City’s most urgent housing, business and infrastructure needs. Under the proposed Action Plan $720 million will be allocated to Housing with $350 million going to rehabilitating single-family houses, $250 million to multi-family houses and $120 million to public housing. $325 million is allocated to assist businesses. $100 million will be available in grants to businesses. Small and mid-sized businesses will be eligible for $100,000 grants and larger businesses in hard-hit areas will be eligible for $1 million grants. In addition $145 million will be disbursed through competitions rewarding innovative investment ideas for neighborhood growth and infrastructure improvements. Under the Action Plan $400 million is allocated to Infrastructure and City Services including public services, emergency demolition, debris removal, code enforcement, and reconstruction of public facilities. Finally the Action Plan references $327 for Resiliency Investments which program will be detailed in a future amendment to the Action Plan.