Community Corner

Bulk Of $1.8 Billion In Federal Sandy Recovery Funds Still Unspent, Report Says

Only $416 million distributed so far

A year after the state received its first round of $1.8 billion in federal Sandy aid, more than three-quarters of the money remains unspent, the Christie administration’s latest performance report shows, according to a report in the Asbury Park Press.

Total expenditures through the end of March came to just $416 million, or 23 percent of the aid package, leaving 77 percent still in government coffers.

The administration says $1.3 billion “is in the pipeline or out the door,” but the report indicates that the bulk of that money falls in the former category, meaning the funds have been obligated, but not yet disbursed or spent.

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Much of the as-yet-undistributed money is still tied up in the Reconstruction, Rehabilitation, Elevation and Mitigation, or RREM, program, which has been slowed by red tape and contractor problems.

To read the entire story, click here: http://www.app.com/article/20140502/njnews33/305020066


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