Bloomberg: $19B in public, private Sandy losses - New York News

Bloomberg: $19B in public, private Sandy losses

Posted: Updated:
The homes along this Midland Beach neighborhood have piles of trash and belongings placed outside. (Nov. 2012) The homes along this Midland Beach neighborhood have piles of trash and belongings placed outside. (Nov. 2012)

NEW YORK (AP) - Mayor Michael Bloomberg estimates Superstorm Sandy caused a whopping $19 billion in losses in New York City. He's asking federal lawmakers to put up nearly $10 billion to reimburse both government agencies and private businesses.

The mayor's request Monday would come on top of a projected $5.4 billion from the Federal Emergency Management Agency.

Bloomberg says that money, and private insurance, won't cover all the public and private expenses from the storm. They could range from rebuilding roads to reimbursing a restaurant for lost business while power was out.

States typically get 75% FEMA reimbursement for disaster recovery. Congress sometimes authorizes additional aid.

The request comes as Congress and the White House face a Dec. 31 deadline to craft a sweeping deficit-reduction plan and avoid the so-called "fiscal cliff."

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Manhattan NewsManhattan NewsMore>>

  • New York's smallest piece of private land

    New York's smallest piece of private land

    Thursday, July 31 2014 8:52 PM EDT2014-08-01 00:52:57 GMT
    The Hess triangle is a tiny piece of private property in Greenwich Village. Manhattan historian Joyce Gold explained the origins of the property: After World War I, New York City seized a beautiful residence and tore it down so it could extend Seventh Avenue and the west side subway below it. The city left the building's owner only a tiny scrap of property so small it requested he donate the triangle to make way for a sidewalk. The man refused, took the city to court and won.
    The Hess triangle is a tiny piece of private property in Greenwich Village. Manhattan historian Joyce Gold explained the origins of the property: After World War I, New York City seized a beautiful residence and tore it down so it could extend Seventh Avenue and the west side subway below it. The city left the building's owner only a tiny scrap of property so small it requested he donate the triangle to make way for a sidewalk. The man refused, took the city to court and won.
  • Tennis star Caroline Wozniacki to run New York City Marathon

    Wozniacki to run NYC Marathon

    Thursday, July 31 2014 4:42 PM EDT2014-07-31 20:42:50 GMT
    Former No. 1-ranked tennis star Caroline Wozniacki plans to play a full tournament schedule this fall while fitting in time to train for the New York City Marathon. She said Thursday that she long had wanted to do a marathon and decided before Wimbledon that she could pull it off this year.
    Former No. 1-ranked tennis star Caroline Wozniacki plans to play a full tournament schedule this fall while fitting in time to train for the New York City Marathon. She said Thursday that she long had wanted to do a marathon and decided before Wimbledon that she could pull it off this year.
  • 5 annoying things about the New York City subway

    5 annoying things about the New York City subway

    Thursday, July 31 2014 2:55 PM EDT2014-07-31 18:55:21 GMT
    Subway problems are annoying, but it’s just a part of living in New York City. Public transportation isn’t glamorous. It’s a pain. It’s a convenience that can cause an inconvenience. Here is a list of five annoying things about the subway system.
    Subway problems are annoying, but it’s just a part of living in New York City. Public transportation isn’t glamorous. It’s a pain. It’s a convenience that can cause an inconvenience. Here is a list of five annoying things about the subway system.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices