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Hurricane Sandy cost $19 billion as Bloomberg seeks aid

Mayor Michael Bloomberg has called for $9.8 billion in federal aid to help New York recover from Superstorm Sandy.

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New York City Mayor Michael Bloomberg (C), US Senator Charles Schumer (2nd R) and New York City Council Speaker Christine Quinn (R) view hurricane damage in the Breezy Point area of Queens on October 30, 2012 after fire destroyed about 80 homes. (AFP/Getty Images)

New York Mayor Michael Bloomberg is seeking $9.8 billion in federal aid after revealing the damage bill of Hurricane Sandy is estimated at $19 billion.

The New York Post reported that while some of it will be covered by insurance and FEMA, Bloomberg said the city will need $9.8 billion from Washington to address what will be the biggest budget gap in its history.

“As you are well aware, Hurricane Sandy caused extensive damage to the City of New York, impairing our infrastructure and displacing tens of thousands of people,” Bloomberg wrote in a letter to New York’s congressional delegation today.

"The city will struggle in the long term unless expedited federal funding is supplied," the mayor wrote in a letter to the city's congressional delegation.

“Additional federal assistance is required to ensure that the storm costs, currently estimated at $4.5 billion for City agencies, do not compromise the services and operations that New Yorkers rely on the City to provide.”

Bloomberg will travel to Washington on Wednesday to make a formal plea to Congress for the funds.

The New York Daily News said Bloomberg gave estimates of the damage bill breakdown, saying the storm will cost city agencies $4.5 billion, and $8.6 billion in damages to private individuals and businesses.

 

 

http://www.globalpost.com/dispatch/news/regions/americas/united-states/121126/hurricane-sandy-cost-19-billion-bloomberg-seeks-