NYC unveils plans for $1.8B chunk of Sandy aid
NEW YORK (AP) -- New York City plans to use some of its federal Superstorm Sandy recovery money for grants to homeowners to fix their properties. The city also says it will install generators at public housing complexes and hold a competition to create storm-resilience technology.
Mayor Michael Bloomberg announced Wednesday what the city aims to do with nearly $1.8 billion in community development block grants.
They represent only part of the funding the city expects to get from the $50 billion Sandy aid package Congress approved last month.
The plans also include grants and loans for businesses and a contest for utilities to make investments in hardening their systems against storms.
Another element is a competition intended to spur economic growth in five heavily damaged areas.