New Jersey is receiving nearly $502 million in federal funds in the third and final round of Superstorm Sandy recovery aid. Here’s how the state plans to spend it:
The bulk of the storm aid — about $440 million — would be used to complete repairs on all eligible Superstorm Sandy-damaged homes and expand a rental unit fund. Additional funding would go to a state program that repairs or replaces housing for special needs populations that was damaged or destroyed by the storm.
$225 million would be used for repairs and mitigation measures for the remaining homes in the state Reconstruction, Rehabilitation, Elevation and Mitigation program.
$215 million would help expand the rental units program.
$10 million would go to the Sandy Special Needs Housing Fund program, which repairs or replaces housing for special needs populations.
$15 million would help provide assistance for up to two years through the Tenant-Based Rental Assistance program. The funds will increase availability of rental units to low- to moderate-income families and help revitalize impacted communities.
The remaining funds will be dedicated for costs associated with administering recovery programs.