HUD allocates CDBG-Disaster Recovery funds based on the best available data from the Federal Emergency Management Agency (FEMA), the Small Business Administration disaster loan programs, the Department of Transportation, and the Army Corps of Engineers to identify the areas of greatest need in the region impacted by Hurricane Sandy. These allocations will be published in the Federal Register in the coming weeks along with criteria for their use.
Rebuild by Design is an innovative design competition that has brought together interdisciplinary design teams, academics, and local communities in an effort to promote resiliency. These awards will allow grantees to execute forward-thinking local recovery projects that can be replicated throughout the region and, potentially, across the country.
In this third Sandy allocation, grantees will be required to identify unmet needs for housing, economic development and infrastructure. Grantees will be required to incorporate a risk assessment in their planning efforts to ensure long term resilience.
HUD, the Office of Management and Budget (OMB), and the Recovery Accountability and Transparency Board, which was established by the American Recovery and Reinvestment Act, will provide oversight to prevent and identify waste, fraud and abuse. In addition, the Hurricane Sandy Rebuilding Task Force, established by President Obama to coordinate the federal government’s efforts to support local rebuilding, has established a Project Management Office to monitor spending and progress to ensure the money is used as intended.
Continue Reading 1 2
Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com