The Most Important Year In New Orleans History

"Officials from New Orleans gathered Tuesday at the Louisiana Recovery Authority meeting. They left very optimistic about the future.

City Council President Arnie Fielkow says 2008 will be 'the most important year in the history of New Orleans.' He told the LRA that's because 'people will make the decision either to reinvest in our community, or make the decision not to do so.'

New Orleans Mayor Ray Nagin also addressed the board. 'We are at a tipping point ladies and gentleman. I think these funds are definitely going to help us move forward and accelerate our recovery,' he told the LRA.

Fielkow applauded what he says is the state freeing up nearly $300 million dollars for New Orleans recovery. 'The good news today is that we can now utilize these funds... to be able to instill the confidence that our citizens and our businesses so demand right now,' said Fielkow

Fielkow says this marks the start of a new era for post Katrina New Orleans. 'We are no longer planning in New Orleans. The planning stages have been completed. We are in the execution and implementation phase of our community now,'"