As the 20th anniversary of Hurricane Katrina approaches, CNBC asks “Can New Orleans Save Its Homes From Flooding Again?”
NORA Executive Director Brenda M. Breaux, interviewed alongside several community members and leaders, highlights the organization’s work to return properties to commerce in a deliberate and thoughtful manner with programs that build affordable homeownership and land acquisition opportunities for low to moderate income households while enhancing the city’s commercial corridors.
From CNBC: Twenty years ago Hurricane Katrina flooded hundreds of thousands of homes in New Orleans and killed over 1,800 people. In the aftermath, a quarter of the city's housing stock was left vacant or abandoned. The U.S. government has spent billions to rebuild homes, restore infrastructure, and fortify the levee system. But more may be needed to counteract the city’s slow decline into the sea. On top of that, parts of the federal response have been criticized for their complexity and impact on low-income homeowners. Today, the city is facing a housing crisis as homeowner insurance premiums and property taxes rise.
