[StBernard] LRA Chairman's Statement on Bond Commission Action to Prioritize GO ZONE Bonds for Severely Impacted

[Westley Annis]

LRA Chairman Norman C. Francis' Statement on Bond Commission Action to Prioritize GO ZONE Bonds for Severely Impacted Parishes

BATON ROUGE, La. (September 20, 2007) - Louisiana Recovery Authority Chairman Norman C. Francis issued the following statement regarding action taken by the State Bond Commission today to prioritize GO Zone Bonds for parishes in Louisiana that were most severely impacted by Hurricanes Katrina and Rita.

"The Governor and State Bond Commission took a strong and wise stand on behalf of our recovery today. By reserving half of the remaining GO ZONE bonds for the parishes most severely impacted by Hurricanes Katrina and Rita, they ensured that these resources provided by Congress will be able to serve as economic catalysts for our recovery where the devastation was greatest."

Hurricanes Katrina and Rita devastated South Louisiana, claiming 1,464 lives, destroying more than 200,000 homes and 18,000 businesses. The Louisiana Recovery Authority (LRA) is the planning and coordinating body that was created in the aftermath of these storms by Governor Kathleen Babineaux Blanco to lead one of the most extensive rebuilding efforts in the world. The LRA is a 33-member body which is coordinating across jurisdictions, supporting community recovery and resurgence, ensuring integrity and effectiveness, and planning for the recovery and rebuilding of Louisiana. 

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