No "Road Home" for Renters
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March 1, 2007
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NO “ROAD HOME” FOR RENTERS
Gov. Blanco Is Violating the Human Right to Housing
Access to housing is a basic human right that is recognized by the U.S. government and international laws. However, Governor Blanco has designed a disaster recovery program that doesn’t give a single dollar directly to any displaced renters.
Before Katrina: 60% of New Orleanians were renters
After Katrina: Rent for private apartments in the New Orleans area is up nearly 80 %
HELPLING LANDLORDS, NOT RENTERS: Governor Blanco has obtained $10.4 billion of federal funds for the Road Home Program, which is managed by the Louisiana Recovery Authority (LRA). As part of the Road Home Program, the LRA has allocated $869 million for landlords who agree to use the funds to rehab their units and rent them at so-called “affordable rates.” In addition, the LRA has earmarked approximately $500 million in community development block grants and $80 million in tax credits to fund the construction of 7,000 rental units in hurricane-damaged areas throughout Louisiana. But today, not a single unit is available for rent on the LRA’s online rental property database. It will take at least several more months, and more likely years, for people who rent to get any trickle-down benefits from the grants and incentives that the LRA offers to landlords and developers.
TOKEN POTENTIAL HOME OWNERSHIP OPPORTUNITY FOR RENTERS: Governor Blanco and the LRA recently promised to give some displaced Louisiana renters the opportunity to become first-time homeowners. However, this promise rings hollow when considering the fact that the LRA has only provided $50 million or 0.4% of the $10.4 billion for this homeowners program for displaced people. Although $50 million seems like alot of money, it can only help approximately 245 displaced families or individuals – an outrageously small number of displaced residents – to purchase a home.
$50,000,000.00 ÷ $204,147.00 = 245 homes
LRA’s First-Time Maximum Home
Homeowners Fund Purchase Price
Gov. Blanco Is Violating the Human Right to Housing
Access to housing is a basic human right that is recognized by the U.S. government and international laws. However, Governor Blanco has designed a disaster recovery program that doesn’t give a single dollar directly to any displaced renters.
Before Katrina: 60% of New Orleanians were renters
After Katrina: Rent for private apartments in the New Orleans area is up nearly 80 %
HELPLING LANDLORDS, NOT RENTERS: Governor Blanco has obtained $10.4 billion of federal funds for the Road Home Program, which is managed by the Louisiana Recovery Authority (LRA). As part of the Road Home Program, the LRA has allocated $869 million for landlords who agree to use the funds to rehab their units and rent them at so-called “affordable rates.” In addition, the LRA has earmarked approximately $500 million in community development block grants and $80 million in tax credits to fund the construction of 7,000 rental units in hurricane-damaged areas throughout Louisiana. But today, not a single unit is available for rent on the LRA’s online rental property database. It will take at least several more months, and more likely years, for people who rent to get any trickle-down benefits from the grants and incentives that the LRA offers to landlords and developers.
TOKEN POTENTIAL HOME OWNERSHIP OPPORTUNITY FOR RENTERS: Governor Blanco and the LRA recently promised to give some displaced Louisiana renters the opportunity to become first-time homeowners. However, this promise rings hollow when considering the fact that the LRA has only provided $50 million or 0.4% of the $10.4 billion for this homeowners program for displaced people. Although $50 million seems like alot of money, it can only help approximately 245 displaced families or individuals – an outrageously small number of displaced residents – to purchase a home.
$50,000,000.00 ÷ $204,147.00 = 245 homes
LRA’s First-Time Maximum Home
Homeowners Fund Purchase Price