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DONOVAN ANNOUNCES APPROVAL OF NEW YORK CITY’S DISASTER RECOVERY PLAN

WASHINGTON, DC – May 13, 2013 – (RealEstateRama) — U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced HUD’s approval of New York City’s disaster recovery plan to help homeowners and businesses following Hurricane Sandy. Funded through HUD’s Community Development Block Grant (CDBG) Program, New York City’s action plan calls for a combined $1.77 billion investment in a variety of housing, infrastructure and business recovery activities