$650M to fix Sandy-damaged homes still tied up

Officials say red tape slowing efforts to get Build It Back funds to homeowners

New York /
Feb.February 24, 2014 11:13 AM

More than a year after Hurricane Sandy hit the East Coast, the vast majority of the nearly $650 million in federal funds set aside for New Yorkers to rebuild their homes has yet to be used for storm victims — leading some applicants to say the city is mismanaging the fund.

Around 20,000 homeowners applied for recovery assistance from the Build It Back program. As of February 20, however, not one applicant with a single-family home had begun reconstruction.

In addition, just three multi-family home projects out of 1,000 applicants have begun, DNAinfo reported.

In total, only 171 applicants to Build it Back have received money, with 47 homes still in the planning phase, an official told DNAinfo. At least half of the applicants to the program are residents whose homes suffered significant damage and whose incomes are lower than the city’s median.

Officials blame the delay on the paperwork required to release funds. At the end of last year, officials said the program would need more than $2 billion to meet all homeowner’s needs, as The Real Deal previously reported. [DNAinfo] — Angela Hunt


Related Articles

arrow_forward_ios
Fairway at 480-500 Van Brunt Street in Red Hook and the O’Connell Organization's Greg O’Connell (Credit: Google Maps)

Fairway landlord: Private-equity owners ruined Red Hook store

Fairway landlord: Private-equity owners ruined Red Hook store
Mayor Bill de Blasio and subway damage caused by Hurricane Sandy (Credit: Getty Images)

Program to rebuild Sandy-damaged homes needs extra $92M

Program to rebuild Sandy-damaged homes needs extra $92M
Army Corps of Engineers Commander Lt. Gen. Todd Semonite and flooding caused by Hurricane Sandy in 2012 (inset) (Credit: Getty Images)

A $119B seawall still might not protect Manhattan, critics say

A $119B seawall still might not protect Manhattan, critics say
Plans for NYC’s storm-surge barrier raise environmental concerns

Plans for NYC’s storm-surge barrier raise environmental concerns

Plans for NYC’s storm-surge barrier raise environmental concerns
Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more

Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more

Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more
Coney Island Hospital moves forward with $738M renovation plan

Coney Island Hospital moves forward with $738M renovation plan

Coney Island Hospital moves forward with $738M renovation plan
After Sandy, buildings flood city’s most vulnerable neighborhoods

After Sandy, buildings flood city’s most vulnerable neighborhoods

After Sandy, buildings flood city’s most vulnerable neighborhoods
Developers are soaking NYC’s waterfront areas with new construction

Developers are soaking NYC’s waterfront areas with new construction

Developers are soaking NYC’s waterfront areas with new construction
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...