WASHINGTON AND NEWPORT COUNTIES will receive $625,612 in funding to rebuild houses and infrastructure damaged by Hurricane Sandy - destruction in Misquamicut Beach is shown here - under the state disaster recovery plan approved today by HUD.
WASHINGTON – The U.S. Department Housing and Urban Development has approved the first stage of Rhode Island’s Hurricane Sandy disaster recovery plan, the agency announced Thursday.
The first stage of the plan, funded through HUD’s Community Development Block Grant program, puts $625,612 toward housing and infrastructure work in Washington and Newport counties. Once approved, the full plan will total $3.2 million.
“I appreciate HUD working with the state on a plan to use these flexible recovery funds to help Rhode Island homeowners, small businesses and communities that were hit hardest by the storm,” said U.S. Sen. Jack Reed in a statement. “This federal funding will help Rhode Island to continue moving forward with our recovery efforts.”
To develop the recovery plan, state officials called for project proposals from local governments and nonprofits in Newport and Washington counties, the areas hardest hit by the storm. There was a special focus on projects to benefit low- and middle-income families, which stand to receive at least half of the total funding.
The bulk of the CDBG funds, 86 percent excluding administrative costs, will go to projects in Washington county, with the remaining 14 percent going to Newport county.
Most of the grant, $460,020, will fund public facility and infrastructure projects, such as repairs to public utilities, streets and buildings. Housing projects for low- and middle-income properties, including reconstruction and repair, debris removal and demolition will receive $103,592. Another $22,000 will go toward planning for future disasters.
Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
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