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FOR IMMEDIATE RELEASE
May 03, 2010
Contact: Christina Stephens, christina.stephens@la.gov

State Accepting Public Comments on Proposal to Develop Construction Financing Program for Road Home Applicants
Program could aid homeowners affected by contractor fraud,

BATON ROUGE, La. - The Louisiana Recovery Authority and the Office of Community Development are accepting public comments on their proposal to develop a program that would offer construction financing solutions to Road Home applicants who have financial hardships preventing them from completing the reconstruction of their homes destroyed by hurricanes Katrina and Rita.

The construction financing program would provide additional resources to homeowners who have been unable to complete their rebuilding for a variety of reasons including fraud, contaminated drywall and the current economic climate.

Eligibility, the terms of the financing and other programmatic details would be outlined in future program developments. As with other new programs, the use of Community Development Block Grant funds for construction financing as an option under the Road Home needs approval from the Louisiana Recovery Authority board of directors, the state legislature and the U.S. Department of Housing and Urban Development before a program can be launched.

  • Click here to download a copy of the Action Plan Amendment about construction financing.

The formal public comment period for the plans began April 28, 2010 and runs until May 7, 2010 at 5 p.m. After accepting public comments, the plan will go before the Louisiana Recovery Authority's board of directors for approval in May before it is submitted to the Legislature for approval. Upon receiving Legislative approval, the state would submit the plan to the U.S. Department of Housing and Urban Development for final federal approval.

Citizens, community leaders and elected officials can access the plans and submit comments online by visiting http://www.doa.louisiana.gov/cdbg/dractionplans.htm and opening "Action Plan Amendment 43 - Homeowner Unmet Needs." A copy of the plans can be requested by calling (225) 219-9600.

Members of the public can submit comments several ways:

Created in the aftermath of hurricanes Katrina and Rita in 2005, the Louisiana Recovery Authority (LRA) is the coordinating and planning body leading the most extensive rebuilding effort in American history. The central point for hurricane recovery in Louisiana, the LRA works closely with the Governor's Office of Homeland Security and Emergency Preparedness (GOHSEP) and partners with state and federal agencies to oversee more than $20 billion worth of programs, speed the pace of rebuilding, remove hurdles and red tape and ensure that Louisiana recovers safer and stronger than before.

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