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State aims to spur $3 billion for Sandy investments

By WKTV News

NEW YORK (AP) - Gov. Andrew Cuomo says the state is taking actions aimed at generating more than $3 billion in private sector loans for Superstorm Sandy rebuilding.
   
The Department of Financial Services is making banks eligible for credit if they support Sandy recovery loans.
   
The  New York Rising rebuilding program aims to make infrastructure more resilient and help small businesses getting back on their feet.
   
The governor is also directing state agencies to prioritize rebuilding projects and to accelerate permit applications.
   
The increased investment was made possible through the Community Reinvestment Act.
   
It comes on top of $500 million in grants previously announced for recovery plans.

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