ISLAND PARK - Cash is finally coming to homeowners and businesses hit hard by Sandy.

Gov. Andrew Cuomo says $1.7 billion in federal grants and loans will soon become available for New York homes and businesses, if approved by the Department of Housing and Urban Development (HUD). He says $880 million will be allotted to Nassau, and $220 million will go to Suffolk.

The grants would help homeowners who have already received FEMA assistance but still had to dig into their own pockets to cover the full cost of repairs. Damaged businesses could be offered grants of up to $50,000 each.

HUD must approve all applicants.