NEW YORK CITY-Mayor Michael Bloomberg presented a plan on Tuesday to protect the city from future storms that comes with a price tag of $19.5 billion.
Of the initiative's total cost, which is to be spent over 10 years, approximately $10 billion is to come from federal aid and capital funding already allocated in the city budget, according to the Wall Street Journal.
Mayor Bloomberg speaking at the Brooklyn Navy Yard, also proposed a new neighborhood—Seaport City—to be built on the east side of Lower Manhattan. The new neighborhood, similar to Battery Park City, would house thousands of new residents and would help protect Lower Manhattan from future storms.
"The plan is incredibly ambitious—and much of the work will extend far beyond the next 203 days…but we refused to pass responsibility for creating a plan onto the next administration," said Mayor Bloomberg. "This is urgent work—and it must begin now." See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
