Associated Press - November 22, 2007 5:44 PM ET
NEW
ORLEANS (AP) - While $126 billion in federal aid is projected to reach
the Gulf Coast following the 2005 hurricanes, about 40% -- or $51
billion -- is going toward rebuilding.
That's according to a new report, which suggests the need for continued aid in the slowly recovering region.
The analysis of aid was done by researchers from Harvard University,
Louisiana State University and the Greater New Orleans Community Data
Center. It shows that most of the federal dollars -- about $75 billion
-- slated for temporary housing, food and other post-storm emergency
needs. The rest of the money, $51 billion, is for rebuilding such
things as houses and public infrastructure.
When added with charitable giving and private insurance dollars, the
total for rebuilding rises to $77.5 billion, just over half the $150
billion in damages estimated from hurricanes Katrina and Rita, the
report says.
The report projects federal aid will reach $126 billion, including
as-yet unappropriated funds for projects in Louisiana passed as part of
a water bill and $3 billion passed to help bailout the state-run Road
Home program.
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