Cuomo: A $6B Pricetag For Sandy
Damage from Hurricane Sandy could cost up to $6 billion in New York alone, Gov. Andrew Cuomo wrote in a letter to President Obama and the Federal Emergency Management Agency this afternoon seeking the maximum reimbursement from the federal government.
Cuomo wrote that the “initial estimates” say the $6 billion cost comes from lost economic revenue in the New York City area, along with the expensive restoration of subway and rail lines after corrosive saltwater flooded the tracks.
Cuomo has so far praised the response of the Obama administration and its handling of the storm.
From his letter:
Our counties are responding to the continued impacts of multi-building fires, tunnel closures, power losses to hospitals and other critical infrastructure, destroyed homes and sheltered populations – all in the midst of historic flooding that has complicated emergency response operations exponentially. Moreover, the cost to restore the complex electrically driven subway and rail transportation systems after total inundation from saltwater flooding will place a tremendous financial burden on New York State. The impact of this storm on thousands of small businesses is devastating and unprecedented. Initial estimates project up to $6 billion in lost economic revenue in the greater metropolitan area and the State due to the severe disruption of business in the world’s leading financial hub and the largest port on the northeastern seaboard.
This support is critical to ensuring that our State and local governments are able to respond effectively to the emergent and continuing issues associated with the devastation caused by Hurricane Sandy.
| Print article | This entry was posted by Nick Reisman on October 31, 2012 at 3:56 pm, and is filed under Andrew Cuomo. Follow any responses to this post through RSS 2.0. Both comments and pings are currently closed. |
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