The High Cost of Disaster Recovery

Is it any wonder that even the federal government is worried about future costs of disaster recovery? Here is an article about one element of housing repair costs post- Sandy, compensation for damage to public housing:

From the NY Daily News: FEMA to give $3 billion to NYCHA for Hurricane Sandy repairs in 33 developments. Some details:

  • A $3 billion bonanza from the Federal Emergency Management Agency — the disaster bureau’s largest grant ever — will go to repair and upgrade city public housing projects damaged by Hurricane Sandy.
  • The money will flow to 33 NYCHA developments in Brooklyn, Manhattan and Queens, Mayor de Blasio and Sen. Chuck Schumer plan to announce Tuesday.
  • “When Sandy hit, it brought weeks of cold and darkness for thousands of NYCHA residents – and too many are still feeling the impact,” de Blasio said. “This investment of $3 billion, the largest in FEMA history, won’t simply bring NYCHA developments back to pre-Sandy conditions. It will allow us to fortify buildings and utilities so that they’re resilient.”

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