NJ receives $1.8-billion in Sandy funding - NBC40.net

NJ receives $1.8-billion in Sandy funding

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WASHINGTON D.C. -

U.S. Sens. Frank R. Lautenberg (D-NJ) and Robert Menendez (D-NJ) today announced that New Jersey will receive $1.8 billion in Community Development Block Grant (CDBG) funding to begin assisting the families, businesses, and municipalities in the areas most severely impacted by Superstorm Sandy.  The announced CDBG allocations for New Jersey and other affected states account for a third of the total CDBG funding in the Sandy emergency relief aid bill.  New Jersey will now work with the U.S. Department of Housing and Urban Development to develop a plan to distribute this funding.

"It's good news for New Jersey that the federal government is moving quickly to get Sandy funding out the door to help rebuild homes and businesses," stated Lautenberg, who was a lead author of the Sandy relief legislation.  "These federal funds will start getting New Jersey families and businesses back on track and we will keep working with the Obama Administration to ensure more federal resources flow into the state.  I am confident that the state will put a good plan in place to distribute the grants fairly and we'll continue working with Secretary Donovan and local governments to ensure this funding helps our state rebuild in the most effective way possible."

"This allocation of CDBG funds represents real help from the federal government and is a good start for the families, businesses and communities recovering by Superstorm Sandy," said Senator Menendez, who helped lead the New Jersey delegation in the fight for federal Sandy relief. "After the storm passed, it was immediately clear that we needed grants, not loans, to help homeowners and small businesses rebuild stronger, and help get the shore's fishing and tourism industries up and running by the summer. I am edified that we have made this significant first step, and I will continue to fight for federal resources to help New Jersayans fully recover from Superstorm Sandy."

Congress included $16 billion in CDBG funding in the Superstorm Sandy emergency aid bill that was signed into law by President Obama last week. This money is intended to fund repairs  not covered by FEMA, the Small Business Administration, or insurance and can be used for a number of purposes, including:

·      Federal grants for rebuilding destroyed homes and repairing damage;

·      Federal grants to support small businesses;

·      Buying out or elevating homes.

·      Rebuilding various types of public infrastructure, including schools,
hospitals and buildings;

·      Improving power utilities' infrastructure.

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