Haute 100 NY Update: Bloomberg Proposes $20 Billion Flood Plan

New York mayor Michael Bloomberg unveils budget in New York

Mayor Michel Bloomberg proposed a $20 billion plan for NYC to ameliorate Hurricane Sandy’s damage and prevent future destruction. The multi-billion dollar system includes flood barriers, bulkheads, dune systems, and building codes all over New York City. Bloomberg’s well-researched plan references environmental experts who presage sea level increases up to 31 inches in the next 37 years, along with severe storms and extreme temperatures. The $20 billion dollar estimate relies on the suggested timeline; capital funding and federal aid will cover $10 billion, U.S. disaster relief will spot $5 billion, and the final $5 billion will come from the sale of municipal bonds.