[StBernard] Rebuild Louisiana Housing Program

[Westley Annis]

On February 20, 2006, the LRA proposed a strategy for rebuilding communities
devastated by Hurricanes Katrina and Rita.  The "Rebuild Louisiana Housing
Program" is only in DRAFT form at the present time.  This draft is being
submitted for public view and comment.  Below is a synopsis of the plan.
For the full presentation of the plan and to voice your comments, please go
to the LRA's web site (www.lra.louisiana.gov) and click on "Housing
Presentation" on the home page or "DRAFT Rebuild Louisiana Housing Program:
Homeowner Program Descriptions".

Rebuild Louisiana has been modeled based on current information about
housing needs and the projected cost of the program design. The LRA's
"Rebuild Louisiana Housing Program" draft has four (4) options: Repair,
Rebuild, Relocate, or Sell.

REPAIR -    Homes that need repair/mitigation.  Louisiana contributes up to
the pre-storm value to the cost of an equivalent house on the same
property.         An  affordable loan covers any gaps.

REBUILD -   Homes that can't be repaired but can safely be rebuilt.
Louisiana contributes up to the pre-storm value to the cost of an
equivalent house on           the same property. An affordable loan covers
any gaps.

RELOCATE -  The homeowner chooses to sell an existing property to rebuild or
relocate elsewhere in a "designated area".  Currently the "designated
area"             is the state of Louisiana. Louisiana contributes up to
the pre-storm value for an equivalent home in the "designated area". An
affordable loan         covers any gaps.

SELL -      Louisiana offers 60% of pre-storm value.


In all cases, assistance will be capped at $150,000, and will be decreased
by insurance and FEMA repair aid.  The assistance (based on total needs)
will further be reduced 30% if the original property was in the flood-plain
and had no flood insurance.

Qualifying properties - The owner occupied the home at the time of the
storm(s).  The home sustained major or severe damage that was
uninsured/uncompensated.  The repair costs must be less than cost of
replacing the home.  Historic preservation will also be given special
consideration.

Please refer to the web site referenced above for more detailed information.