New York City Allocates Nearly $300 Million Of Sandy Funds For Climate Change Resiliency Plan
From Think Progress 11 May 2013 -
New York City allocates nearly $300 million of Sandy funds for climate change resiliency plan. On Friday, the City of New York allocated $294 million of Superstorm Sandy recovery funds for resiliency projects to respond to the threat of fossil-fueled climate change.
The announcement was part of the unveiling of NYC’s plan for $1.77 billion in Sandy recovery initiatives by Mayor Michael Bloomberg, Housing and Urban Development Secretary Shaun Donovan, and Sen. Charles Schumer (D-NY) at New York City Hall:
The City has set aside $294 million for resiliency investments to be detailed in a report issued by the Special Initiative for Rebuilding and Resiliency later this month.
“HUD’s approval of our comprehensive Action Plan enables us to take the next critical step toward recovery – launching the programs for home rebuilding and business assistance that will rejuvenate the neighborhoods Sandy hit hardest,” said Deputy Mayor for Operations Cas Holloway. “We’ll also take the first steps toward making the City more resilient to the impacts that we know climate change will bring.”
SIRR is directed by W. Seth Pinsky, the President of the New York City Economic Development Corporation, the quasi-public agency that supports urban development projects in the city, in close coordination with the NYC Office of Long Term Planning and Sustainability, led since December 2012 by Sergej Mahnovski, a renewable-energy expert. Goldman Sachs vice president Marc Ricks, a lead architectof New York’s sustainability roadmap,PlaNYC, took a leave of absence from the investment firm to join the SIRR team.
Whole Story: Think Progress