Industry News

Government adds $4 billion for Louisiana housing

HUD gears up to give additional $1 billion to other states

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An additional $4.2 billion in emergency funding will go to Louisiana to support its long-term recovery from last year's hurricanes, the Department of Housing and Urban Development reported Tuesday. HUD made the announcement during a news conference at the State Supreme Court in New Orleans this week. The housing department is also inviting Mississippi, Alabama, Florida and Texas to detail their unmet housing and community development needs to assist in determining how to allocate another $1 billion. The emergency funding is provided through HUD's Community Development Block Grant program. Last January, HUD allocated $11.5 billion in funding among five Gulf Coast states, including $6.2 billion to the state of Louisiana. "It was clear to me that Louisiana desperately needs this additional funding to implement its plans to bring its citizens back home," said HUD Deputy Secretary Roy A. Bernardi. "HUD will work very closely with (Louisiana) Governor Blanco and the Louisiana Reco...