Unified New Orleans Plan Could Top $14 Billion

As the community has roundly approved the Unified New Orleans Plan, coordinators of the recovery planning effort have announced that its costs could rise above $14 billion over the next decade. Exact funding sources have yet to be fully identified.

"It remains to be seen how city leaders, who are giving tentative backing to the unified plan, will fare as they try to persuade Congress, foundations and private investors to put money into the varied rebuilding ideas. Some of the $14 billion -- the exact amount isn't known -- is already available to the city through storm recovery programs, such as the FEMA program that pays to repair or replace public infrastructure damaged by the disaster."

"Core features of the broad plan include incentive grant programs that would help city residents elevate their homes, rebuild slab homes using more traditional building styles and help residents relocate from flood-prone, mostly abandoned neighborhoods to more viable ones on higher ground. Those programs alone would cost more than $4 billion in coming years and would supplement any grants already available through the state's Road Home program."

"Among dozens of other projects, the plan calls for spending more than $800 million to renovate or build schools and nearly $10 million to add a network of police substations. It also says $2.2 billion should be spent during the next decade on 'ongoing replacement of all major and minor city streets.'"

Full Story: N.O. planners' vision will cost $14 billion

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