Don’t make homeowners take a backseat to the Mercedes-Benz Superdome
On Monday, March 26th, the Jindal administration announced a plan to redirect hurricane recovery money from housing and other disaster programs to fund improvements to the Mercedes-Benz Superdome.
The Louisiana Housing Alliance opposes this plan and believes that the State of Louisiana should prioritize its neighborhoods and communities and honor its commitment to hurricane impacted parishes.
These federal disaster recovery dollars should not go to the Mercedes-Benz Superdome.
An investment in housing is an investment in economic development.
Be sure to tell the governor why housing is important to you in your signiture.
For more background information check out these two articles:
For more information on the Louisiana Housing Alliance visit our website: http://www.lahousingalliance.org
These funds were intended to assist residents of Acadia, Calcasieu, Iberia, Tangipahoa, Terrebonne, Vermillion and Washington Parish to recover from Hurricanes Katrina and Rita. Shifting homeowner assistance and first time homebuyer funds brings into question the State of Louisiana’s commitment to hurricane impacted Parishes, homeownership and the American Dream.
While the Mercedes-Benz Superdome is an economic development driver, I believe that homeownership and housing production are critical economic development drivers and the State of Louisiana should continue to support homeowners, housing development and rehabilitation.
For every existing home sold, the National Association of Realtors estimates an economic impact of nearly $31,000 per home. If 600 homes were sold, they would generate $18.6 million in economic impact in Louisiana.
For every new home built, the National Association of Home Builders estimates that three jobs and $23,000 in state and local taxes are generated. Considering that a modest single family home can be built for $100,000, directing $6.6 million to building homes could create 600 additional homeowners, 1,800 additional jobs, and nearly $14 million in state and local taxes.
Furthermore, the Mercedes-Benz Superdome has previously received $115 million from Federal Emergency Management Agency for repairs, and $13 million from the State of Louisiana, for a total of $184 million for improvements. Rather than subsidize sports facilities, the State of Louisiana should prioritize its residents by creating stable communities through homeownership and housing production.
Through the strong network of the Louisiana Housing Alliance, I believe we can collaborate with the local Volunteer Organizations Active in Disaster councils and Parish leaders to implement a solution to expedite delivery of funds to impacted parishes.
The State of Louisiana should prioritize its neighborhoods and communities by honoring its commitment to hurricane impacted parishes. I strongly urge you not to shift these desperately needed disaster funds.