New York City will use millions of dollars from its capital budget to fully fund dozens of storm-protection projects that were expected to be paid for by federal Sandy money, officials say.
Superstorm Sandy did an estimated $19 billion in damage and the city received a $4.2 billion federal grant to help rebuild from the October 2012 storm. The city initially planned to use more than $500 million of that amount on projects such as raising shorelines and rebuilding critical infrastructure.
Instead, the city ended up using the half-billion dollars in federal resiliency funds to pay for cost overruns in its Build Back Program, which fixes, elevates and rebuilds homes damaged in the storm.
The city is tapping the its more than $14.5 billion-a-year capital budget to fill the gap. The capital budget is used to fund long-term infrastructure projects.
11 comments:
Preposterous. These officials manage money with the skills of vegas slot machine addict. The moronic build it back program is going to screw the city for years, especially since it's been refunded.
A main factor is that the feds did not even send enough money, less than a quarter the amount of the aggregate damage. It won't be long before high tides start coming in to ruin our predator developers little waterfront luxury projects. Especially their little trolley line.
What makes me laugh is people are still recovering from this Super Storm Sandy and are still waiting for help.
Over spend? Too much red tape and headaches.
I would be more shocked if it was reported that the government DIDN'T overspend on something.
The folks in areas hit by Sandy out here in Queens now will never see any of the projects to protect their neighborhoods built. Capital projects will be proposed with great fanfare but actual construction...not in this lifetime, if ever.
The next big Sandy will come soon. Perhaps that's why the government is dragging its heels.
President T is right, when the government is involved the project is always delayed and over budget. Get ready for your water rates to rise and property taxes to go up!!!!!!!!
The public needs to DEMAND an accounting of capital projects, starting with the Library on down the budget.
Like the Immigrants/Homeless welfare state program scams, the Democratic Party squanders billions of dollars of capital projects that are mostly 'Honest Graft.'
Drain the Swamp.
A billion here, a billion there, pretty soon, you're talking real money.
Amazing how we can get billions in federal aid, and it somehow winds up still costing us local taxpayers money because of state incompetence. Heads need to roll over this.
You get the Government you deserve - Thomas Jefferson...
Interesting how Sandy victims are still not taken care of because of lack of money, yet massive waterfront developments get funded.
Interesting how residents get poor services while programs for people with 'sexual issues', non-citizens and welfare state cheats gets lavish attention.
The Democratic Party has moved away from the Democrat base.
Well, look at the good thing: for the first time since the 1930s everyone is now talking about politics. That is good.
Post a Comment