N.J. Seeks to Shift Funds to Aid Homeowners Waitlisted for Sandy Grants (Insurance Journal)

Insurance Journal
(11/7/2013 1:52 PM, Insurance Journal)

New Jersey Governor Chris Christie’s administration said it is seeking to allocate additional federal funds to two major Superstorm Sandy housing recovery programs and also to set aside funds for a program to demolish unsafe structures.

The Christie administration said it is seeking the Housing and Urban Development’s (HUD) approval to transfer $160 million of the federal funds designated for grants and forgivable loans to small businesses to these programs.

If approved, the proposed amendment would enable thousands of additional Sandy-impacted homeowners to receive federal resources to assist them in their recovery effort. The public can also comment on these proposals until Nov. 20.