The federal Department of Housing and Urban Development has approved the city's plan to spend $1.77 billion in aid for Sandy recovery efforts, and city residents and businesses are set to start receiving the funds as soon as this summer, the New York Times reports.
The city's plan calls for $648 million to go to programs to rebuild homes and make them more storm-resistant. That sum also includes $9 million in rental subsidies for low-income New Yorkers who are at most risk for homelessness.
The rest of the money breaks down as follows:
Mayor Michael Bloomberg is expected to announce the approval of the plan at City Hall on Friday.