On April 30th, the Long Island Power Authority (LIPA) was obligated over $267 million through FEMA’s Public Assistance program for Superstorm Sandy. With this obligation, New York State has exceeded the $133 per capita requirement and FEMA can now recommend that the President adjust the federal cost-share.
Schumer urged FEMA to move forward with a recommendation to President Obama that would adjust the federal cost-share from 75 percent to 90 percent. Schumer noted that, in the past, FEMA has almost always made such a recommendation to the President. Schumer made the case that between FY2006 and FY2010, more than 19 disaster declarations have had their cost share adjusted from 75 to 90 percent. Schumer explained the enormity in which Superstorm Sandy damaged New York State; the storm destroyed homes, businesses, and infrastructure and has cost New York State billions of dollars to repair. Schumer went on to say that Superstorm Sandy victims in New York have already laid out hundreds or thousands of dollars because of the storm and that this federal cost-share adjustment would save local taxpayer money.