After Hurricane Sandy hit New York City with an estimated $19 billion in damages, the federal government chipped in $15 billion in aid. A decade later, New York City has spent just 73% of that money, according to a new report.
Make your contribution now and help Gothamist thrive in 2022.After Hurricane Sandy hit New York City with an estimated $19 billion in damages, the federal government chipped in $15 billion in aid. A decade later, New York City has spent just 73% of that money, according toThe report described progress on recovery and resiliency efforts as “slow” and “far from complete” — but its findings provide recommendations for accelerating preparedness for future storms.
Just over 3% of existing structures in these areas have adopted the new building standards for resiliency – the rest are not obligated to follow these new codes. The comptroller projects the floodplain will have $242 billion market value by 2050.funding — $1.9 billion meant to address some major post-Sandy vulnerabilities in Manhattan — remains mostly unused. The city had only spent about 13% as of June 2022. Some of its projects won’t be completed until 2030. Its design includes nearly 2.
While New York City has spent nearly all of its $4.2 billion grant from the U.S. Department of Housing and Urban Development, a third of its grants from the Federal Emergency Management Agency are still available, amounting to almost $3.5 billion. Through the FEMA Public Assistance Program, money was allocated for the repair, replacement, and cleanup of publicly owned land damaged by Hurricane Sandy. But some New York City agencies received disproportionately more money than others. Four agencies received over $1 billion each: NYCHA, the Health and Hospitals Corporation, the Department of Environmental Protection, and the Department of Parks and Recreation. Nearly half of the city’s remaining departments received less than $300,000 each.
A more accurate analysis of New York City’s progress on recovery and resiliency can be gleaned from the timelines of planned projects. For example, the Raise Shorelines program has a budget of over $100 million for elevating flood-prone roads. On its balance sheet, it has reported just over 40% spent, but only less than 1% has actually been paid out. According to its timeline, all work should be completed in June 2025.
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