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New York City mayor to ask Congress for $9.8 bln for Sandy costs
November 26, 2012 / 5:06 PM / 5 years ago

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.

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