MS will divert $600 million in Katrina housing relief money to port expansion (1 Viewer)

DadsDream

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Mississippi plans Katrina grant diversion
State wants $600 million from housing program for huge port expansion


While thousands of Mississippians who lost their homes to Hurricane Katrina remain in FEMA trailers, the state intends to spend $600 million in federal grants originally earmarked for housing on a major expansion of the state-owned port — a project that could eventually include casino and resort facilities.

Despite strong objections from housing activists and the threat of hearings from two powerful congressional Democrats, the U.S. Department of Housing and Urban Development is expected to approve the diversion of the funds on Friday. A HUD spokesman says the agency has little discretion at this point to block the switch.

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http://www.msnbc.msn.com/id/22805282/
 

NCSaint

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So they are taking 10% to fix the port? At first glance this seems "OK" to me. The math below 5.5B - (3.4B+.6B) = 1.5B balance - (.6B for this effort) = .9B for Haley to spend elsewhwere -- right???

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The money in question is part of $5.5 billion in HUD Community Development Block Grants (CDBG) that Congress authorized for Mississippi after Hurricane Katrina struck on Aug. 29, 2005. Administered by the Mississippi Development Authority, about $3.4 billion was allocated to replace and repair some of the nearly 170,000 owner-occupied homes destroyed or damaged by the storm. Another $600 million was set aside for programs to replace public housing, help small landlords fix their units and foster construction of new low- and moderate-income housing.
 

atceagle

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This link lays out the program. The port money has been talked about for a while now. From the link:

4) Implementation of regional economic development plans

The Mississippi Development Authority will use CDBG funds for projects which have a positive impact on multiple localities.


There are many other items that could be questioned as well.

http://www.gulfcoastnews.com/GCNnewsKatrinaFedReliefPlans.htm
 

UGASaintsFan

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I guess when you get a lot more than you needed, you can take the money and spend it elsewhere.
 

geauxboy

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If the ports generate income for the state, couldn't some of the profits be put back into the Katrina fund, eventually? The money profited from the port expansion could be beneficial for many decades and provide a monetary cushion should such an event rear it's ugly head again. That way, the state will be in control of how and where the money is spent and not relegated to those that don't.
 
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DadsDream

DadsDream

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With federal grant money, isn't is a "use it or lose it" deal? That is, if they set aside a wad of cash for your state and it doesn't get used, it goes back to the Feds.
 

Tony in Brandon

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That's the way my agency works with fed. grants. If you don't spend it, you won't have it to spend in the future.
 

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