Industry News

HUD approves $368 million plan for Louisiana recovery

Plan is part of a multibillion-dollar emergency grant

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The U.S. Housing and Urban Development Department has approved a $368.4 million plan to support hurricane recovery efforts in Louisiana, Secretary Alphonso Jackson announced today. The federal funds are part of a $6.2 billion Community Development Block Grant that the department has allocated to Louisiana and will be used to assist the state in meeting infrastructure needs, provide interest-free small business bridge loans, and lay the groundwork for the state's anticipated homeowner assistance program, according to the announcement. "This plan will go a long way toward rebuilding infrastructure, supporting struggling mom and pop businesses and helping homeowners who may have lost everything," Jackson said in a statement. "As we move along Louisiana's road to recovery, HUD will work overtime to help rebuild healthy and vital communities that families can proudly call home." Louisiana Gov. Kathleen Babineaux Blanco said in a statement today, "Approval of these much-needed funds gives ...