Smaller Sandy Buyout Sparks Fears Over Future Storm Costs

Law360, New York (May 14, 2013, 7:38 PM EDT) -- While buyouts for some New York homeowners smacked by Superstorm Sandy are still in the offing, the relocation program's scale has shrunk from the size initially envisioned by Gov. Andrew Cuomo, leading some environmentalists to lament the potential for a costly repeat of the hurricane's damage.

The rebuilding effort came further into focus this week as New York City's plan to spend $1.8 billion in federal emergency funding won approval from the U.S. Department of Housing and Urban Development. Separately the state's plan, valued at $1.7...
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