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Council reallocates Housing Trust Fund money, shifting millions from multifamily construction to roof and rental rehab
Summary
The New Orleans City Council on Nov. 6 approved an amended Housing Trust Fund implementation plan that shifts millions from a proposed small multifamily construction subsidy to owner‑occupied fortified roof repairs and rental rehabilitation programs.
The New Orleans City Council on Nov. 6 approved an amended implementation plan for the city’s Housing Trust Fund that shifts a portion of proposed small multifamily construction dollars into owner-occupied fortified roof work and rental rehabilitation programs.
Councilmembers adopted a motion to resubmit the Trust Fund budget and implementation plan with modifications that reduce the proposed small multifamily construction subsidy from $6,350,008.63 to $2,350,008.63; increase owner-occupied roof rehabilitation funding from $2,054,006.91 to $4,054,006.91; and raise funding for a small rental rehabilitation program from about $1,867,009.01 to roughly $3,860,067.00. The amendment also expands the owner-occupied…
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