AP News

NY official estimates Sandy's cost at $18B


ALBANY, N.Y. (AP) — New York's state comptroller says the cost of superstorm Sandy could exceed $18 billion in New York alone.

Comptroller Thomas DiNapoli pegged the toll at $15 billion to $18 billion in public and private sector losses based on past storms, but that total could easily grow.

DiNapoli, a Long Island native, says Friday the state is also losing untold dollars in taxes at a time when revenue is already running nearly $500 million under projections.

The state budget due in April had been projected to show a $1 billion deficit before Sandy hit.

Gov. Andrew Cuomo and legislative leaders announced Friday they'll approval a $100 million fund to help Sandy victims rebuild.


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