BATON ROUGE, La. -- A program allocating close to $200 million worth of bond money for low-interest loans to help repair or rehabilitate housing for victims of recent hurricanes was announced Monday by Gov. Kathleen Blanco, and members of the Legislature, including members of the Legislative Black Caucus and the chairman of the House Republican Caucus.
The loans will be financed through bonds sold through the Louisiana Housing Finance Authority. About $100 million will go for loans to approximately 2,000 homeowners for repairs or rehabilitation of owner-occupied homes.
Another $95 million in bond money will be dedicated to finance the repair and construction of affordable rental housing.
Black Caucus chairman Rep. Cedric Richmond, D-New Orleans, praised Blanco for signing executive orders to implement the programs and credited Rep. Jim Tucker, a New Orleans area Republican and chairman of the House Republican Caucus, with helping work out the plan.
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