Two HANO Projects Could Lose Tax Credits

New Orleans, La. – The U.S Department of Housing and Urban Development reports that plans to replace two downtown sites may be in jeopardy unless Congress extends hurricane-related tax credits. The Lafitte and B.W. Cooper housing projects were part of a plan to replace the so-called "Big Four" complexes with mixed-income units. Housing activists have feared that tearing down the structures would result in stretches of empty land while housing demand is critically high. U.S Senator Mary Landrieu said she'll push for an extension on the credits. Meantime, HUD says the agency needs a major overhaul in how it operates before it can return to local control in three to four years.