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Monday, March 30, 2015

NY Rising releases award letters
Sandy victims began receiving grant notifications this week
By Alexandra Spychalsky
Courtesy New York State
When residents receive their award letter, it will mark the third of a nine-step process that NY Rising has outlined for grant recipients on its website.

Hurricane Sandy victims statewide may soon see some much-needed financial relief.

The New York Rising program, tasked with distributing $1.7 billion in federal Sandy aid money allocated to the state, began releasing grant award letters this week.

The program was announced in April as a way to help homeowners fill the funding gaps left by the Federal Emergency Management Agency, the Small Business Administration and their insurance, a reimbursement process that residents and local officials described as sluggish and complicated.

NY Rising has received 4,300 applications for homeowner assistance from across the state — 4,000 from Long Island alone — and enrollment remains open. Statewide, $484 million has been authorized for awards so far, $451 million of that total for Long Islanders.

Some residents who have received letters, however, say the money is not what they were hoping for, and that the way the grant is set up prevents them from supplementing it with an SBA loan. According to Seth Diamond, the state director of the governor’s storm recovery office, that funds represent the total unmet need of the homeowner: the cost to repair the house, offset by other benefits, like FEMA and insurance reimbursements and other grants.

Generally, the maximum award is $300,000, but, according to Diamond, homeowners must follow rebuilding guidelines. Some green building standards will be imposed, only certain materials are approved for use and the grant will not pay for “luxury items,” he said. For homeowners who have already gone ahead with work, their expenses may be reimbursable. And those for whom the cost of repairs is more than 50 percent of the value of their home, and who live within the “100-year floodplain,” are eligible for an additional $50,000 to raise their homes, Diamond said.

“In general, this is a very comprehensive program,” he said. “It addresses gaps that people have been worried about for things like earth movement or bulkheads that they wouldn’t have been able to receive funding for.”

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Sandeep

I don't understand why the women from Long Beach is concerned. Take the 80K from NYS rising and instead of SBA loan do a 401K loan, HELOC, take from savings, sell your cars, borrow from Mom etc. You just cant borrow from NYS rising AND SBA as it is double dipping in their eyes.

My only question on program is, ok lets say you open mail box today and it says you are entitled to 50K for work done and 100K for work to be done.

What's next. When do I get my check for 50K and what is process to go ahead and hire a contractor?

It is a shame the money is so late in coming. Folks with no flood insurance and only the $31,900 from FEMA did not expect anything. Many threw like 70K into house fixing it best they could.

Most would have done nothing to house. And build a new house. Now trouble is they dont have enough to build a new house. They have splits etc where part of house is below BFE, as such their flood insurance rate will go through roof in a few years if they dont raise house. But now they dont have enough to raise house as they blew money making their home livable.

Still great the state is doing this. Long Beach in like three years will be ten times better due to Sandy.

Monday, October 21, 2013 | Report this
Sandeep

Many of the small long beach bungalows with detached garages are hit by fact NYS rising does not cover damage to detached garages and repairs are often based on "unit" costing, length, width, height of rooms etc.

If you have a house under 1,000 square feet with a detached garage and you neighbor has a 1,800 split with a 200 square foot attached garage the checks are going to be very different.

Monday, October 21, 2013 | Report this
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