"Leger warned that the process will be complicated: Damage claims and ownership will be checked, documentation will have to be provided for repair work, and, in the case of property buyouts by the state, clear title will have to be proven.
Byrne said an 'uncomplicated case' with documentation and no title problems would likely take six to eight weeks to process, but any paperwork problems would extend that time.
Under the program, $6.34 billion will be available for homeowners, $1.53 billion will be provided for landlords to rebuild rental property and $1.5 billion will be used for hazard mitigation and buyouts. Homeowners basically have one of four options: repair, rebuilding at the current site, relocation and rebuilding at another site in Louisiana, or a total buyout for those who don't want to rebuild and intend to leave the state.
Elkins said that although the federal government would allow the state to use up to 5 percent of the entire program for administrative costs, the state had created a budget putting that figure at about 2 percent. The startup will cost around $87 million."
I don't get it. If they state only plans to use $87 million to administer the program, why is ICFI getting $756 million? Aren't they a part of administering the program?
Posts
No comments:
Post a Comment