New York City mayor to ask Congress for $9.8 bln for Sandy costs
Nov 26 (Reuters) - New York City Mayor Michael Bloomberg said on Monday he will ask Congress for $9.8 billion to pay for superstorm Sandy costs not covered by insurance or other federal funds.
In a letter to New York's congressional delegation, Bloomberg said that total public, private and indirect losses to the city from the devastating late-October storm totaled an estimated $19 billion.
Of that, private insurance is expected to cover $3.8 billion, with Federal Emergency Management Agency reimbursements to cover at least an additional $5.4 billion, Bloomberg said in a statement.
The city will still need the additional $9.8 billion to help pay for costs that FEMA does not cover, like hazard mitigation, long-term housing and shoreline restoration and protection efforts, he said.
Bloomberg is scheduled to travel to Washington, D.C., on Wednesday to speak with congressional leaders.
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Netanyahu vows to complete Gaza tunnels destruction
- Argentina defaults but investors see eventual deal possible
- Obama to Republicans: ‘Stop just hatin’ all the time’