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Updated: HUD announces $1.46B in additional Sandy funds

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The federal government is sending another $1.46 billion to New Jersey for Hurricane Sandy relief programs for hard-hit businesses and residents, officials announced Monday.

The funding is the second wave of relief from Washington, D.C., after the $1.8 billion that was allocated to the state in February and has since been put to work by state agencies like the Economic Development Authority. The latest round will support many of the housing, economic development and infrastructure needs that have gone fulfilled since Sandy ravaged the Northeast.

"One year later, it's clear these communities continue to be challenged by the sheer scale of this devastating storm, requiring further investment to make certain these needs are met," U.S. Housing and Urban Development Secretary Shaun Donovan, whose department is awarding the funds, said in a prepared statement.

HUD allocated the funds based on data from the Federal Emergency Management Agency, the U.S. Small Business Administration and other agencies, according to an agency news release. In this allocation, grantees will be required to identify unmet needs and incorporate risk assessments in their planning.

The second installment was announced this afternoon in a ceremony in Little Ferry. All told, HUD awarded $5 billion to a group of jurisdictions that also includes New York City, New York State, Connecticut, Maryland and Rhode Island.

The funding will come from the $50.5 billion emergency relief bill signed into law in late January by President Barack Obama. The package included $16 billion in disaster relief funds through HUD's Community Development Block Grant program, with a first installment that was announced in February.

Since then, Gov. Chris Christie's office and several state agencies have unveiled a host of grant and loan programs for repairs not covered by FEMA, the SBA or insurance. They have included a $460 million package overseen by the EDA, aimed at helping small businesses that were affected and funding development in storm-battered municipalities.

 

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Joshua Burd

Joshua Burd

Josh Burd covers real estate, economic development and sports and entertainment. Before joining NJBIZ in 2011, he spent four years as a metro reporter in Central Jersey. His email is joshb@njbiz.com and he is @JoshBurdNJ on Twitter.

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