New York, NY – March 6, 2013 – (RealEstateRama) — U.S. Senator Charles E. Schumer today announced that the U.S. Department of Housing and Urban Development (HUD) will allow Community Development Block Grants Disaster Recovery (CDBG-DR) funding to help housing cooperative and condominium owners impacted by Superstorm Sandy. Co-op and condominium owners are not currently eligible for Federal Emergency Management Agency (FEMA) grants to cover the cost of repairs to common areas and infrastructure. The move comes after Schumer requested that HUD establish program guidelines to establish eligibility requirements to help co-op and condo homeowners repair damage incurred by Sandy. The funds can be used to repair the common areas in the building, such as lobbies, boilers and elevators.
RealEstateRama AFTER SCHUMER PUSH, HUD WILL ALLOW FEDERAL DISASTER-AID FUNDING TO BE AVAILABLE TO CO-OP AND CONDO OWNERS FOR REPAIRS – FEMA GRANTS CURRENTLY UNAVAILABLE TO THEM IN NEW YORK CITY AND LONG ISLAND