Sens. Menendez, Booker Announce $16M to Repair Sandy Damage to Port Authority Facilities, Equipment - Insurance News | InsuranceNewsNet

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July 27, 2017 Newswires
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Sens. Menendez, Booker Announce $16M to Repair Sandy Damage to Port Authority Facilities, Equipment

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WASHINGTON, July 27 -- The office of Sen. Robert Menendez, D-N.J., issued the following news release:

U.S. Senators Bob Menendez and Cory Booker today announced the awarding of a combined $15,667,201.79 from the Federal Emergency Management Agency (FEMA) to reimburse the Port Authority of New York and New Jersey (PANYJ) for 90 percent of the cost to repair key facilities and equipment damaged by Superstorm Sandy.

"Superstorm Sandy devastated New Jersey communities and destroyed much of our region's vital infrastructure," said Sen. Menendez. "Nearly five years later, we are still picking up the pieces and working hard to make our homes and our state more resilient and better prepared to withstand the next storm. This federal funding will help repair and fortify our transportation network and move New Jersey closer to full recovery from the worst natural disaster to hit our state."

"Our region's already crumbling infrastructure sustained even further devastation as a result of Hurricane Sandy," said Sen. Booker. "This federal investment is much-needed shot in the arm that will help strengthen our state's transit infrastructure, increase resiliency in the face of future storms and keep our economy moving forward."

The following specific grants were awarded:

$6,436,638.32 - To fund 90% of the cost to reinstate insurance reductions previously taken for the damages sustained to BMW Road and the shoreline at the port in Jersey City as a result of Superstorm Sandy

$3,509,202.55 - To fund 90% of the cost to reinstate insurance reductions previously taken for the damages sustained to 146 PANYNJ vehicles as a result of Superstorm Sandy

$2,126,204.10 - To fund 90% of the cost to reinstate insurance reductions previously taken for the damages sustained to New Jersey Marine Terminal electrical substations as a result of Superstorm Sandy

$1,076,554.18 - To fund 90% of the cost to reinstate insurance reductions previously taken for the damages sustained to New Jersey Marine Terminal berths as a result of Superstorm Sandy

$1,472,371.34 - To fund 90% of the cost to reinstate insurance reductions previously taken for the damages sustained to runway lighting at Newark Liberty National Airport as a result of Superstorm Sandy

$1,046,231.30 - To fund 90% of the cost to reinstate insurance reductions previously taken for the damages sustained to Port Authority Police Department equipment as a result of Superstorm Sandy

Through these grants, FEMA is restoring funding it had originally deducted for insurance proceeds the Port Authority had collected on these projects. According to FEMA, they are no longer deducted because they are now being applied to repairs on the Holland Tunnel.

In 2013, President Obama signed the Superstorm Sandy Supplemental Appropriations bill into law, bringing the total Sandy aid enacted by Congress to $60.2 billion. The funding package included federal aid to help homeowners, businesses, and communities recover, and resources to rebuild coastal, transportation, and water infrastructure.

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