The Affordable Rental program restores and creates affordable rental housing for individuals with low and moderate incomes. Municipalities, parishes, nonprofit organizations and developers in the 53 affected parishes were eligible to compete in the program. Thirteen of the 16 approved developments have been completed; three are awaiting closing or under construction. When all 16 developments are finished, a total of 664 units will be created, 553 of which will be affordable.
Multi-Family Rental: Low-Income Housing Tax Credit "Piggyback"
Modeled after the Katrina/Rita program of the same, this program has awarded low-interest loans to 11 developers who will build rental housing for market-rate and low- to moderate-income tenants and create permanent supportive housing (PSH) units for disabled individuals. A total of 758 rental units will be created, of which 713 will be affordable and 153 will be PSH.
Louisiana Housing Council Disaster Recovery
funding to Louisiana Public Housing Authorities (PHAs) to cover
insurance deductibles due to property damage as a result of hurricanes
Gustav and Ike. PHAs provide affordable housing for approximately 17,000
of Louisiana's low-income residents and more than one-fourth are
elderly and/or handicapped. The program is administered by the Louisiana
Housing Council Inter-Local Risk Management Agency. An additional $13
million has been dedicated to B.W. Cooper, a large PSH development in
Short-Term Assistance and Rental Services program provided rental
assistance to Gustav/Ike-affected applicants. Families who did not make
the conversion to Housing Choice Vouchers were also assisted through
this program, which ended in June 2013.
**Program activities have been completed.
Other Gustav-Ike Recovery Programs: