Attract new funds for vital coastal protection projects
The City’s $3.7 billion coastal protection plan is nearly 50 percent funded and moving forward. But significant portions of the plan still require additional funds for implementation.
To address this need, the City will continue to identify and secure new sources of funds to reduce coastal flooding risk. In partnership with USACE, a new feasibility study for New York Harbor and its tributaries will launch in 2015. It is intended to result in new projects that can be authorized and funded in New York City, in accordance with the City’s coastal protection plan.
To advance elements of its full-build coastal protection plan, the City is conducting its own feasibility studies of several investment opportunities, including at Coney Island Creek, Newtown Creek, Gowanus Canal, and Lower Manhattan. These studies are being conducted to inform future USACE studies, and are intended to strengthen the City’s ability to secure additional funds.
The City will also seek out new sources of funding. HUD is currently running a National Disaster Resilience Competition which will fund innovative resiliency measures that strengthen communities. The City has already submitted its phase one application to this competition.