[StBernard] LRA Vice Chair Isaacson Testifies in Support of Louisiana Recovery Corporation

Westley Annis westley at da-parish.com
Thu Nov 17 22:22:59 EST 2005


LRA Vice Chair Isaacson Testifies in Support of Louisiana Recovery
Corporation
Testimony Caps Off First 30 Days of LRA Initiatives

Washington, D.C. - Louisiana Recovery Authority (LRA) Vice Chairman Walter
Isaacson on Thursday encouraged congressional leaders to pass legislation
creating a corporation that would help homeowners and local banks get back
on their feet and begin to rebuild and reestablish their communities.

Isaacson, who also serves as chair of the LRA's federal legislative task
force, testified at Governor Kathleen Babineaux Blanco's request before the
House Financial Services Committee in support of the concept behind H.R.
4100, which establishes the Louisiana Recovery Corporation (LRC). The
legislation is authored by Representative Richard Baker of Louisiana.

In his testimony, Isaacson, a New Orleans native, explained that "Louisiana
needs a smart and bold process to channel resources for rebuilding
Louisiana" and the LRA believes that "the concept outlined in the Louisiana
Recovery Corporation Act has the potential to serve as an important enabler
for rebuilding Louisiana's homes and communities." Read the full testimony
here <http://www.lra.louisiana.gov/assets/Isaacson_11_17.doc> .

Isaacson told the committee that Governor Blanco supports the concept, and
that he and other members of the LRA believe that it has great potential to
energize our recovery efforts.

According to the American Red Cross, Hurricane Katrina alone destroyed an
estimated 275,000 housing units, nearly 10 times as many units destroyed by
Hurricane Andrew. More than 200,000 of these units are estimated to be in
Louisiana alone. Local banks and financial institutions extended mortgages
and credit backed by the homes that were destroyed. A recovery corporation
is the vehicle Louisiana needs to begin redeveloping our neighborhoods,
according to Isaacson.

"To start this process, we need to provide liquidity through a standard
process for property owners and banks. To finish the process right, we need
to rebuild these communities consistent with the desires of state and local
leadership in partnership with the private sector. A Recovery Corporation
can provide the liquidity, the standard framework and process, and the
partnership with the State and private sector to enable this redevelopment
to begin in earnest," said Isaacson.

The LRA Vice Chairman also reiterated the board's mission to lead
Louisiana's efforts to speak with one voice in Washington. In fact, the
Louisiana Recovery Authority has been working closely with local governments
across Louisiana since the hurricanes and in particular with members of New
Orleans Mayor Ray Nagin's Bring Back New Orleans Commission.

The latest legislative push by Louisiana has come on the heels of an LRA
milestone - 30 days of work as Governor Blanco's authority to address short
and long-terms issues of recovery in the wake of Hurricanes Katrina and
Rita.

In addition to the action of the LRA Board of Directors, LRA staff work on a
daily basis to attack short-term, high priority projects. Recovery
accomplishments resulting from LRA efforts include:

* the release and prioritization of $250 million for the state's
Hazard Mitigation Program, which will be a key tool in the LRA's efforts to
help parishes affected by Hurricanes Katrina and Rita rebuild stronger and
safer



* establishing and endorsing legislative agenda items on both the
federal and state levels to assist in the rebuilding and recovery efforts
(ex. coastal restoration and levee protection, uniform building codes, New
Orleans school takeover business assistance, and job creation)



* asking the American Institute of Architects and the American
Planning Association to host the Louisiana Recovery and Rebuilding
Conference November 10-12, which developed a body of principles that will
guide the LRA's long-term planning and recovery efforts. Click here to visit
the Web sites of the AIA <http://aia.org/> and APA
<http://www.planning.org/> .



* partnering with the U.S. Chamber of Commerce, the International
Economic Development Council and the Louisiana Department of Economic
Development and its sister agencies in Mississippi and Alabama to host the
upcoming Gulf Coast Business Reinvestment Forum on November 28-29 in
Washington, D.C.



* working with the Department of Education to identify K-12 schools
that were damaged or destroyed so that schools can be repaired or rebuilt in
a timely manner in order for students to resume classes. Click here to view
details
<http://www.lra.louisiana.gov/assets/draft_report_LEA_reopen_dates.pdf>
(All school districts in the affected parishes with the exception of Orleans
have resumed classes - Orleans Parish is targeting a January opening.)



* initiating a community planning process which began with meetings
with local officials in affected parishes; community meetings to gather
public input will begin in early December



* expanding business recovery and retention efforts by assisting the
Louisiana Department of Economic Development with a $4 million grant from
the Economic Development Administration to open six Business Assistance
Centers across southeast and southwest Louisiana, assisting with business
planning and long-term sustainability



* advocating federal funding to expand the Louisiana Department of
Economic Development's Bridge Loan Program which successfully provided $10
million in financial assistance to Louisiana businesses



* strengthening efforts of the Department of Transportation and
Development and the Department of Labor establish and extend LA Swift, a
free bus service coordinated through the LRA to connect displaced workers
with jobs in the New Orleans area



* coordinating efforts between Louisiana State Police and local
governments to train officers for law enforcement agencies in affected areas




* supporting private efforts to create a Support Organization
Foundation that will serve as a funding organization which will finance and
select a community planning firm



* the creation of the LRA Web site <http://www.lra.louisiana.gov> ,
electronic newsletter and other communication vehicles in an effort to
spread LRA's mission, successes and challenges in the recovery and
rebuilding process



The LRA, a 26-member body appointed by Governor Kathleen Babineaux Blanco to
identify and prioritize short and long-term needs of the recovery, is the
planning and coordinating body that will assist in implementing the
Governor's vision for the recovery of Louisiana. It will seek out and value
local input as it plans and implements the recovery.


###

The Louisiana Disaster Recovery Foundation (LDRF), Louisiana's fund for
Louisiana's people, has been established by Governor Kathleen Babineaux
Blanco in order to support long-term family restoration and recovery and
help provide assistance to our citizens in need through a network of
Louisiana charities and non-profit agencies.

1-877-HELPLA1 (877-435-7521) www.louisianahelp.org




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