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New York mayor wants £11.8bn for storm clear-up

New York mayor Michael Bloomberg has released the city’s request for federal aid to help recovery in the wake of Hurricane Sandy.

The city’s estimate total of public and private losses in New York has been put at $19bn (£11.8bn). After private insurance and Federal Emergency Management Agency (Fema) reimbursements New York City still faces a shortfall of £6.1bn

Bloomberg said the funding is needed to cover costs that will not be covered by Fema funding such as hazard mitigation, long term housing solutions, and shoreline restoration and protection.

The New York City Department of Transportation is estimating costs of £623M for repairs, £499M is earmarked for street reconstruction. Bloomberg wants further Federal government money to ensure the estimated £2.8bn storm costs do not affect day to day services provided by the city.

An estimated £3.5bn gross produce was lost due to the hurricane.

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