New York – Gov. Cuomo said Hurricane Sandy cost the New York region a staggering $42 billion in damages – a worse housing and economic toll than Hurricane Katrina leveled on New Orleans and the Gulf.
After meeting with the New York congressional delegation, Cuomo said he would urge Congress and President Obama to cover the cost.
“Hurricane Katrina, in many ways, was not as impactful as Hurricane Sandy, believe it or not,” the governor said.
“Because of the density of New York, the number of people affected, the number of properties affected was much larger in Hurricane Sandy than Hurricane Katrina. That puts the entire conversation, I believe, into focus.”
Cuomo said $32.8 billion of the cost is for repair and restoration costs – about half in New York City.
Another $9.1 billion covers “mitigation and prevention” costs to prevent future flooding, particularly in MTA tunnels and underground utilities.
The prelimary estimate found more than 305,000 houses damaged or destroyed, compared to 214,700 during Katrina.
There were 2.2 million power outages, compared to 800,000 during Katrina.
And there were 265,300 New York businesses impacted, compared to 18,700 during Katrina.
Source: THE NEW YORK POST