In his weekly radio address, Mayor Michael Bloomberg gave further details on his plans for the first installment of Hurricane Sandy recovery funds approved by Congress.
The mayor said the nearly $1.8 billion in federal aid released to the city should include help for New Yorkers who are rebuilding their homes.
He said in part, "We propose to use $720 million of these federal funds to rebuild and renovate storm-damaged housing. Some $350 million of this sum would go out as grants to owners of one- and two-family homes and our top concern will be helping the most financially distressed homeowners who are facing the greatest repair costs. Where homes need to be rebuilt entirely, we'll help the owners meet current building code requirements, and also elevate their homes to protect them against future flooding."
The mayor also said he wants to invest $120 million in repairs to public housing.
Programming Note: Christine Quinn will deliver her final State Of The City address as City Council Speaker on Monday, and NY1 will cover her speech live, beginning at noon.