Pallone: Residents and Small Businesses Impacted by Sandy Now a Critical Step Closer to Recovery

U.S. Department of Housing and Urban Development Approved $1.8 billion Disaster Recovery Plan for New Jersey

Washington, DC – April 29, 2013 – (RealEstateRama) — Today, Congressman Frank Pallone praised the approval of New Jersey’s $1.8 billion Community Development Block Grant (CDBG) disaster recovery plan that will help New Jersey’s homeowners and businesses impacted by Superstorm Sandy.

“I hear from New Jerseyans every day about how difficult this process is, and I know that many of them are not even close to a full recovery. The approval of this $1.8 billion plan means that more people now have an end in sight, and it will allow businesses to focus on business instead of how to pay for repair costs.” said Congressman Pallone.

The New Jersey CDBG disaster recovery funds have been allocated for homes and small businesses suffering damages following Superstorm Sandy. These grants will help residents repair their homes, fund buyouts in areas where people face repetitive flooding, assist homeowners who need help to raise their homes and businesses with repair costs not covered by insurance or small business loans.

The CDBG plan, submitted by New Jersey, was approved today by the U.S. Department of Housing and Urban Development. The funding was made possible by the Sandy Relief Package passed by Congress.