This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NY To Get $3.5 Billion In 1st Release Of Sandy Aid

NEW YORK (AP) â¿¿ New York is getting nearly $3.5 billion in the first release of funds from the $50.5 billion emergency relief measure enacted last month for Superstorm Sandy victims, Sen. Charles Schumer said Tuesday.

As part of the total $5.4 billion to be released in the first installment, New York State will receive $1.7 billion and New York City will receive nearly $1.8 billion for distribution, Schumer said.

New Jersey will get $1.8 billion and Connecticut, Rhode Island and Maryland will split the rest, Schumer added.

"We know there is desperate need and anxious waiting in the places hit by the storm, and we will be making sure that this money gets to homeowners, small business and communities as quickly as possible," Schumer said.

The money is part of $16 billion in community block grants from the U.S. Department of Housing and Urban Development and will go toward housing and rebuilding efforts.

Schumer said further details on the specific projects and geographic distribution will be released in mid-February.

The Oct. 29 storm was one of the worst to strike the Northeast and is blamed for more than 130 deaths and tens of billions of dollars in property damage.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,038.80 -41.34 -0.23%
S&P 500 2,112.95 -4.74 -0.22%
NASDAQ 5,063.6340 -28.4510 -0.56%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs