More than 3,000 lots flooded by Hurricane Katrina and bought with
federal money in an emergency bailout sit idle across this city _ a
multimillion-dollar drain on federal, state and city coffers that lends
itself to no easy solution.
An Associated Press examination of the properties sold to the
government by homeowners abandoning New Orleans after the catastrophic
2005 flood has found that about $86 million has been spent on 5,100
abandoned parcels. And there's no end in sight to maintenance costs for
perhaps most of the 3,100 properties that remain unsold.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
You will always loose money when you build a city 10 feet below sea level and fill it full of Democrats.
How about they give them away, similar to the oklahoma land rush? Willing pioneers just come take this land and it's yours free and clear as long as you build on it and inhabit it/utilize it in a legal fashion for x amount of years before you can sell it.
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