$1.2 Billion Approved for Flood Recovery

Date: January 19, 2017

$50 million has been appropriated for business owners.

Months after historic flooding devastated Louisiana in March and August 2016, state leaders are continuing to work toward recovery. On Jan. 6, Gov. John Bel Edwards announced the plan for another $1.2 billion in relief funding, which was approved by Congress in December.

 The appropriation proposal for the funding, per the Office of Community Development, is:

  • $935.4 million for homeowners
  • $80 million for renters
  • $50 million for business owners
  • $105 million in matching funds for public assistance through the FEMA, to help local governments meet their cost-share match needed for public infrastructure improvements

 The Restore Louisiana Task Force, created by Gov. Edwards in September 2016, will vote on this action plan at its next meeting, scheduled for Jan. 20.

Additionally, Gov. Edwards announced the Office of Community Development submitted its final plan for the $437.8 million allocated to Louisiana in September; most of this funding will be appropriated for homeowner programs for the elderly, disabled, and poor. The state may be cleared to begin this spending in March or April.

Gov. Edwards also plans to request $2 billion more in aid from Congress, and FEMA has also distributed about $588 million in individual assistance, reported The Advocate. Given the state’s financial woes, any disaster aid will help ward off further tax hikes.

Related Content: Small Business News | Economy | Louisiana

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