During last Thursday's New York City Council hearing, city officials acknowledged that they had mishandled the Superstorm Sandy recovery effort. The hearing found that the program is $500 million over budget, and has helped less than a third of the homes in the program.  Mayor Bill de Blasio had promised to finish rebuilding homes affected by Sandy by the end of 2016, but in a report released the day before the council meeting, he said they won’t meet the December deadline.  The mayor has ordered the reallocation of $500 million in city funds to be put towards the rebuilding effort. Read more here.