Private Philanthropists Funding Recovery In New Orleans

State and federal funding is slowly feeding the recovery of New Orleans, while private foundations and philanthropies are playing an active role in supporting the city's rebuilding. However, much of this money is going to middle-class neighborhoods.

"Government money is still trickling through the pipeline: On Monday, Louisiana recovery officials approved $117 million for the first post-Katrina community development grants. But with the long wait for cash, private foundations, wealthy individuals, and philanthropies have stepped in, playing a bigger role in the city's rebuilding than ever expected."

"For many New Orleanians, wooing and leveraging private investments into cornerstone public works is empowering – and an example of how nearly 50 other struggling city neighborhoods can revitalize themselves. But concerns are emerging that the new model may leave behind unorganized poor neighborhoods, where 30 percent of the city's residents now live."

"Charities, foundations, and private individuals have promised at least $50 million toward renovating and building schools, libraries, and senior centers in New Orleans since the hurricane, much of it in middle-class communities such as Uptown and St. Roch."

"In contrast, the US has spent or allotted some $4.6 billion on activities ranging from helicopter rescues, levee repairs, housing assistance, and Superdome restoration."

Full Story: Private dollars leading recovery of New Orleans

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