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Report: Federal aid falls far short of hurricane rebuilding need

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.

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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