[StBernard] Governor proposes $3.5 billion for rebuilding, developing rental housing

[Westley Annis]

Governor proposes $3.5 billion for rebuilding, developing rental housing
"Working families are the backbone of Louisiana's recovery" 

BATON ROUGE--Standing in front of a mixed-income rental complex in the lower
garden district of New Orleans, Governor Kathleen Babineaux Blanco today
announced a $3.5 billion proposal to rebuild affordable, quality rental
housing using federal funds in order to bring working families back home.

"If this recovery is going to succeed, then our hard working families are
the backbone. We must bring them home," said Governor Blanco. "Rental
housing has been scarce and the rents have been high. Families from all
income levels need affordable rental housing and this plan will ensure that
we have that wide range of housing options for our citizens."

Before Katrina, more than half of New Orleans residents rented their homes.
The Road Home Workforce and Affordable Rental Housing plan will put to work
federal Community Development Block Grant dollars to rebuild, repair, and
reopen reasonably priced, quality rental housing.

"Our goal is to redevelop communities in a safer, stronger, smarter way,"
Louisiana Recovery Authority Executive Director Andy Kopplin said. "The Road
Home Programs are the foundation for a comprehensive redevelopment of
neighborhoods and communities throughout New Orleans and all of South
Louisiana. The rental portion is an essential element of the plan."

Workforce and Affordable Rental Housing Plan: 

*	$1.75 billion to finance programs to rebuild rental housing owned by
small landlords and develop mixed-income rental communities
*	$1.7 billion in private equity investments derived from Low Income
Housing Tax Credits allotted to Louisiana through the Gulf Opportunity Zone
legislation

"My goal is not only to restore the rental housing stock, but to create new,
mixed-income communities to attract our working families back home," said
Governor Blanco. "Developing mixed-income communities are key to avoiding
creating large pockets of poverty."

Through the rental housing plan, the Landlord Gap Funding Repair Program
will support the return to commerce a large portion of single- and
double-family homes and multi-family buildings that served very low-income
working families. 

The Supportive Housing program will utilize $75 million of CDBG funds to
offer support services to special need citizens who have endured numerous
traumatic relocation after the storms.

The Louisiana Recovery Authority will discuss the proposed plan at its board
meeting Thursday. 

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The Louisiana Disaster Recovery Foundation Louisiana's Fund for Louisiana's
People www.louisianahelp.org
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