Financiers pitching ‘Sandy Bond’ deal (Times Union)

November 27, 2012 – Gov. Andrew Cuomo isn’t the only one seeking to bring money into the state to pay for the rebuilding after Superstorm Sandy. While the governor on Monday laid out details of a $42 billion aid request to Congress, a growing number of voices from the finance industry are imploring the federal government to grant tax-exempt status to what they are calling “Sandy Bonds.” Similar to the Gulf Opportunity, or “GO Zone” bonds, that were sold after Hurricane Katrina, Sandy Bonds would allow private investors — ranging from real estate developers to manufacturers — to sell tax-exempt bonds that could pay for houses, apartments, factories, power plants or other business investments needed in Sandy’s wake.

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