Industry News

Louisiana hurricane recovery gets $4.6 billion boost

HUD approves state's 'Road Home Program'

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Housing and Urban Development Secretary Alphonso Jackson today announced he is approving a $4.6 billion plan proposed by the state of Louisiana that would offer up to $150,000 for certain eligible homeowners who agree to repair, rebuild or purchase replacement homes in Louisiana. The Road Home Program created by the funding also aims to boost production of affordable rental housing for lower-income families; restore resources to meet the needs of homeless persons and families for housing and supportive services; and offer incentives to developers to construct attractive mixed-use housing developments (both rental and homeowner), particularly in the New Orleans metropolitan area. "This plan is a significant step toward rebuilding new, vital neighborhoods in Louisiana and will help put out the welcome mat for folks to come home," said Jackson. "HUD will continue to work closely with Louisiana to make sure the new communities that emerge will be places any Louisianan...