Efforts of Citi and the Citi Foundation Now Total $1.6 Million
Today, Citi announced $500,000 in emergency funding to five community organizations to expand their relief efforts in neighborhoods across New York City, Long Island and New Jersey that are struggling in the aftermath of Hurricane Sandy. This latest funding is part of Citi’s support of relief and recovery efforts in the region’s hardest hit communities. “Much of the recovery work is just beginning, and Citi is continuing to engage with our local nonprofit partners and government leaders to support this critical effort,” said Citi CEO Michael Corbat. “We are committed to doing our part to help the region recover and rebuild in the weeks and months ahead.” Citi’s additional funding will immediately boost the capacity of community-based organizations to continue to provide frontline support ranging from emergency home repair loans to assistance filing important paperwork like insurance claims and disaster assistance application forms required by the Federal Emergency Management Agency (FEMA). “Because of the enenormous geographic scope of Hurricane Sandy, many communities have been affected in very different ways and they are now confronting a range of challenges based on the storm’s impact,” said Bob Annibale, Global Director of Citi Microfinance and Community Development. “Frontline community-based organizations are critical to the social and economic health of many of these severely affected neighborhoods. Our support for these organizations, many of which have been working in these communities for decades, will help ensure the right resources and assistance are quickly directed to those who are most in need.”
Margert Community Corporation in the Rockaways, Queens, has set up temporary headquarters to begin assisting the 1,000 area residents it serves with housing, support filing applications for FEMA assistance, and foreclosure prevention services. The Rockaway community was hit particularly hard by the storm. More than 19,000 homes remain without power and many homeowners suffered severe damage.