New York City Mayor Bill de Blasio is planning to announce a major overhaul of the city's beleaguered program that was supposed to rebuild homes that were wrecked by Superstorm Sandy.

The mayor's office says his Sandy recovery team has completed a report that will detail reforms to the Build-It-Back program and speed the recovery process. The mayor will outline those reforms on Thursday.

Only a handful of homes have begun construction under the program. Very few homeowners have received reimbursement checks for repair work.

City officials have said they need another $1 billion from the federal government in order to help every homeowner in need.

Build-It-Back was created by former Mayor Michael Bloomberg to primarily help New Yorkers repair, rebuild and elevate homes.