This past week, NYC Mayor Michael Bloomberg revealed a new funding initiative to help the neighborhoods which were hardest hit by Hurricane Sandy last October. This funding will come from the initial portion of the $1.77 billion Community Development Block grant handed down from the federal government. This money will extend to housing, business owners and retailers via 8 specific programs.
Mayor Bloomberg remarked that “These funds will help New Yorkers who were the hardest hit by Sandy get back on their feet and help communities build back stronger and smarter. This allocation is evidence of the great cooperation we’ve had in responding to and recovering from Sandy from every branch and arm of the Federal government.”
In light of a recent report released by the Downtown Alliance which highlights the great progress made in the Post-Hurricane Sandy Lower Manhattan recovery effort, it is doubtful that Lower Manhattan will receive a great deal of funding. However, whatever funds are received, will help the Manhattan region below Chambers street to address the need still present amongst its residents and business owners.