Schumer Proposes Storm ‘Bank’
Sen. Charles Schumer is urging turning a chunk of New York’s Sandy grant money into a loan fund to pay for long-term infrastructure improvements.
The senator said the fund would use a portion of the $16 billion in Community Development Block Grant funding authorized after the storm. He said it could provide low-cost financing and attract private money to improve facilities.
Schumer said the fund would “be a creative way to take the resources we’ve already secured and do much more with them.”
This article appeared in print on page 5 of edition of Hamodia.
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