Hempstead Town asks feds about IRA penalty waivers for storm fixes

But Hempstead officials said Tuesday that many Sandy sufferers need access to money immediately because of the high cost of rebuilding.

Many residents are waiting on Federal Emergency Management Agency checks or insurance money and need cash as soon as possible so they can rebuild, officials said.

Sandy’s “damage to homes, businesses and infrastructure has been staggering and many people are not able to pay for repairs without withdrawing from their IRAs, 401Ks and other saving programs. While most people with damage are waiting for payments from their insurance companies and FEMA, the repairs cannot be put on hold,” town officials said in a statement.

Town Supervisor Kate Murray and Councilman Anthony Santino made the announcement Tuesday in a hard-hit neighborhood in Baldwin.