New York Officials Will Create $100M Fund for Sandy

New York Gov. Andrew Cuomo and legislative leaders are creating a $100 million fund to help people hit hardest by superstorm Sandy rebuild their homes and lives.

Cuomo says the fund will be replenished as necessary.

The announcement Friday comes even though the state faces a $1 billion deficit.

Assembly Speaker Sheldon Silver and Senate Majority Leader Dean Skelos have agreed to approve the spending.

The tally of storm damage is expected run into billions of dollars for families and businesses. Private insurance will cover some of that cost, but not all of it.