[StBernard] LRA Buy-Outs

Westley Annis westley at da-parish.com
Tue Dec 5 21:33:03 EST 2006


Thank you for that answer, Craig. I suppose that it is too early for the
Parish to know how they will recommend that the low income housing
requirement will be met. For example, would the preference of the Parish be
to spread out the required low income housing among all areas where there is
LRA (Louisiana Housing Trust) property, or to concentrate it in specific
neighborhoods where the buy-outs are most prevalent? It is a concern to
those with property in neighborhoods north of Judge Perez, where many people
are taking buy-outs. If 25 percent of those homes are going to turn into
low-income housing, that fact will figure into the decisions as to whether
to rebuild an existing home in that same neighborhood. Even more, if, a
couple of years from now, the low income housing will be concentrated in
some specific neighborhoods, people might want to know that before they
invest their LRA funds in rebuilding a house in one of those neighborhoods,
as a concentration of low income housing may affect their property values.
I know it is probably too early for any of these facts to be known, but I
think the uncertainty as to what these neighborhoods are going to look like
a few years from now is one of the reasons why some people have made the
decision not to re-invest in their old neighborhoods. Also, if people had
some insight as to the future plans for the Parish, it would help people
decide whether to rebuild an existing home immediately, whether to take a
buy out (even if the amount seems low), or whether to hold on to property in
the hopes that it will increase in value or that they can rebuild some time
in the future.

Thank you again for all of your hard work and your responsiveness to
questions. These are not easy decisions for any of us.

CK





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