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Wednesday, August 15, 2007
Katrina Recovery Update
The Brooking's Katrina Index released its latest report on the slow-going hurricane recovery. The report explains a few of the policy barriers to a full recovery:
Despite this progress, many other obstacles to recovery remain.
- The Road Home program will stop accepting applications after July 31, largely due to the estimated $5 billion shortfall
in the program. Neither Congress nor the Louisiana legislature have committed to providing additional funding for
Road Home.
- Funding for the city's plan to redevelop 17 targeted neighborhoods has yet to be secured, stalling recovery czar Ed
Blakely's plans to have "cranes up in the skyline" by September.
- Skyrocketing insurance rates continue to place a tremendous burden on residents and small businesses alike, leading to
the termination of several plans to develop high rises and multi-family dwellings already approved by the state and
city.
New Orleans probably has many problems it has to work out for itself, but a lack of funding should not be one of them.
Posted by Matt Lewis
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