The New York and New Jersey Harbor and Tributaries Study, also known as the HATS study, looks at how to protect the NYC area from another Hurricane Sandy.
. That's how much the U.S. Army Corps of Engineers thinks it will take to protect the New York City area from coastal storms.
"There is no question that climate change is going to cost us. We're going to have to pay to dig ourselves out of the hole that we're in," Rohit Aggarwala, chief climate officer for the city of New York, told CNBC. "It's unclear how these things will affect property taxes. Whether it's the flood or the wall, these are changes to the places that we live," Robert Freudenberg, vice president of energy and environment at the Regional Plan Association, told CNBC, implying that there doesn't seem to be a way to avoid some additional cost.
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