The Department of Housing and Urban Development has approved a $1.7 billion investment plan designed to assist Hurricane Sandy victims in New York State.
State officials said they plan to use $838 million to support a variety of housing programs and $415 million to assist economic revitalization programs.
The program is funded through HUD's Community Development Block Grant Disaster Recovery, which gives grantees significant flexibility in determining “how to meet the greatest unmet needs.”
To ensure “all funds are used as intended” to help families get back in their homes and jumpstart local economies, housing secretary Shaun Donovan said, HUD has “imposed additional internal controls and accountability measures” and will be working with the inspector general on a regular basis.
On Jan. 29 President Obama signed the Disaster Relief Appropriations Act into law, providing a total of $16 billion in CDBG Disaster Recovery funding, of which HUD allocated $5.4 billion to five states including New York.