[StBernard] Road Home Weekly Program Update

[Westley Annis]

Wendy,

Here are the numbers as I calculated them:

					$ Based on Avg Benefit
Applications	 134,234 	 $10,163,527,310 

Initial Appt	 103,161 	 $ 7,810,835,115 
RHAS Appt	 	   5,194 	 $   393,263,710 
----------------------------------------------
Total Appt	 	 108,355 	 $ 8,204,098,825 
		
Option 1	 	  32,734 	 $ 2,478,454,810 
Option 2	 	   4,600 	 $   348,289,000 
Option 3	 	   1,191 	 $    90,176,565 
----------------------------------------------
Total Options	  38,525 	 $ 2,916,920,375 
		
Benefits Calc	 72,927 	 $ 5,521,667,805 
Average Benefit	 $75,715 	

If every applicant was to receive the average, it would cost $10.1 billion.
Based off just the number of appointments held, you've got $8.2 billion.

There are 38,525 people who have returned their golden ticket and chose one
of the three options.  Their total comes to $2.9 billion.

Benefits have been calculated for 72,927 people for a total of $5.52
billion.  This is what gives us the average of $75,715.

Based on number of applications, there are still 61,307 people waiting to
have benefits calculated, estimated at $4.64 billion.  When you subtract the
$7.5 billion we received, with the estimated total of $10.1 billion, you're
left with a difference of $2.6 billion.

I'm not sure of the full details, but apparently not all of the $7.5 billion
from the CDBG funds can be used for the Road Home program, plus you still
have to pay ICF, so that puts your shortfall higher.

After spiking up to an average of $81,576 the week of Feb 27, it has dropped
7.28% in 10 weeks, losing over 5% the week of Mar 20.

Now, you would have to get the average down to $55872 if every applicant was
to receive a check and you don't pay ICF.

Westley


-----Original Message-----
From: stbernard-bounces at da-parish.com
[mailto:stbernard-bounces at da-parish.com] On Behalf Of Westley Annis
Sent: Wednesday, May 09, 2007 10:06 PM
To: stbernard at da-parish.com
Subject: [StBernard] Road Home Weekly Program Update

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Wes,
 
  How is it that the road home is going bankrupt?Correct me if I'm wrong in
this, but didn't they calculate the number of homes destroyed by the amount
of money given and came to the grand total of 150,000 per home owner.
Considering they are only dispersing an average of 75,000 per homeowner,
where in the hell is the rest of the money going? By their numbers of 38,
525 * the average benefit of 75,715 totals only 2.9 billion...where is the
5.52 coming from and it still only equals about half of what is stated? Am I
confused on calculating this out because it's not making sense.
 
 
Wendy



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