Comptroller John Liu said Thursday he's working on a plan that would put the city's pension funds to work to finance Hurricane Sandy rebuilding efforts.
Liu said his office will put the plan before the city's five pension boards and trustees in the coming weeks.
Liu says in addition to helping rebuild hundreds of homes lost in the storm the pension fund will benefit by earning returns through interest paid on the financing.
"Now that there is a huge need to rebuild tens of thousands of homes in the city, the use of the city's pension funds as capital to accelerate these projects is going to be vitally necessary," Liu said.
The city has already used pension funds to help finance construction projects, but rebuilding after Sandy is on a much larger scale.