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Mayor Bloomberg Wants $9.8 Billion Federal Handout To Recover From Hurricane Sandy
By
John Del Signore
Published Nov 26, 2012
Modified Nov 26, 2012
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By
John Del Signore
Published Nov 26, 2012
Modified Nov 26, 2012
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Today Mayor Bloomberg formally announced the final gross estimated economic impact of Hurricane Sandy: "Private and public losses" resulting from the superstorm are expected to top $19 billion. "After subtracting private insurance of $3.8 billion and FEMA reimbursement of $5.4 billion, the net cost to repair the damage caused by Hurricane Sandy will be approximately $9.8 billion," Bloomberg wrote in a letter to members of the New York State Congressional Delegation (see below).
That $19 billion estimate includes $4.5 billion in damages to city agencies, $5.7 billion in lost business, and $4.7 billion in uninsured private losses. "Whether it was a small retail store in Coney Island that lost its inventory in a flood or a restaurant in Staten Island forced to close due to a loss of power, Hurricane Sandy caused an estimated $5.7 billion in lost gross product in the City," Bloomberg wrote. "These businesses are crucial to the City’s economy and to the communities that rely on their services, and the work of recovery will not be complete until they are back in business."
The request for aid comes as Cuomo meets today with Senators Charles Schumer and Kirsten Gillibrand, among others, to discuss his $30 billion request for federal aid. Cuomo was the first official out of the gate to request a specific number from the Federal government in the wake of the hurricane, and sources say members of the Congressional delegation were angered because Cuomo had not communicated with him before asking for the $30 billion, which some see as excessive. Last week Schumer told Capitol Confidential, “I’m not sure the number is $30 billion."
MAYOR BLOOMBERG RELEASES HURRICANE SANDY FEDERAL AID REQUEST
Tagged
deal with it
handouts
hurricane relief
hurricane sandy
mayor bloomberg
John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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