Liu: city coffers will weather Sandy
by Shane Miller
Nov 07, 2012 | 943 views | 0 0 comments | 9 9 recommendations | email to a friend | print
City Comptroller John Liu said last week that $30 million in emergency expenditures has already been allocated by the city to address Hurricane Sandy.

In an interview last week, Liu said the money will be used to operate emergency buses, keep ambulances running and remove debris.

By contrast, Liu said that the city allocated $12 million in emergency funds for Hurricane Irene.

Liu said while Hurricane Sandy presents economic challenges to the city, he is confident the federal government will help pay for much of the more extensive damage.

“The billions of dollars of damage done to city property we hope will be reimbursed by FEMA,” he said.

He did say that the loss of economic activity would affect the city, however.

“There is $2 billion dollars a day in economic activity in the city, and that is down at least 20 percent,” he said late last week. “That is about $200 million in tax revenue each day.”
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