YOU READ IT HERE FIRST: Federal officials today announced $1.83 billion in investments to support a variety of long-term housing, infrastructure and business activities in New Jersey as part of the government’s Hurricane Sandy rebuilding plan.
“Today we take another important step toward recovery and healing for hard-hit communities in New Jersey,” said U.S. Housing and Urban Development Secretary Shaun Donovan, chairman of the federal Hurricane Sandy Rebuilding Task Force.
“Today’s news sends a very powerful message that New Jersey is moving forward and that the Jersey Shore will be open for business this summer,” Gov. Christie said.
“These funds will provide critical resources to our Sandy-impacted homeowners and businesses to reconstruct, rehabilitate and continue down the road of recovery,” Christie said.
President Obama signed the Disaster Relief Appropriations Act of 2013 into law in late january, providing $16 billion in CDBG Disaster Recovery funding.
HUD allocated $5.4 billion to New Jersey, four other states and New York City.
According to the government:
“CDBG Disaster Recovery funding gives grantees significant flexibility in determining how best to use their funds to meet the greatest unmet needs. In general, the funds are intended for the restoration of housing and infrastructure as well as economic revitalization in disaster-impacted areas. The funds are to meet recovery needs that are not otherwise covered by other federal assistance, private insurance, or other sources.
“The New Jersey plan offers a range of programs to provide relief to homeowners of damaged or destroyed properties as well as grants and low-cost loans to eligible small businesses. These programs provide more than $1 billion in various housing programs; $200 million for economic revitalization; and $225 million for infrastructure and public service programs.”
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