Louisiana Will Receive $2.7 Billion for Levee Infrastructure Projects

South Louisiana residents know the damage flooding can cause to the levee systems around the area during a hurricane. The Lousiana levee systems are very important to the area and its residents. Last month, it was announced that the area will receive $2.7 Billion towards completing the Morganza-to-the-Gulf hurricane levee system along with several dozen levees, flood control and other infrastructure projects.

Congress recently approved the two bills that provide the $2.7 billion, the Hurricane Ida Disaster Supplemental Appropriations bill approved in September and the Infrastructure Investment and Jobs Act approved in November.

The Coastal Protection and Restoration Authority has allowed $1.3 billion dollars in their annual 2023 budget which will be spent over 12 months beginning July 1. Included are 144 projects statewide, including $1 billion to be spent on the construction of 76 projects.

“After Louisiana suffered a direct hit from Hurricane Ida, I am pleased to see the Corps include over $1 billion for projects in Louisiana’s First Congressional District,” Steve Scalise, R-Jefferson, who originally opposed the bill, said. “As our state’s recovery continues, I am committed to pushing the Corps to ensure South Louisiana has the resources necessary to restore and improve protection for our citizens and communities.”

“The federal funding released today builds on years of work by Congressman Scalise on these flood protection projects,” replied spokesman Hunter Lovell. “Congressman Scalise, along with Congressman Garret Graves, secured the language in a House bill that allowed the Morganza-to-the-Gulf project to receive federal construction funding for the first time in its history.”

The Morganza levee system already has received $12.5 million in 2020 and $19 million in 2021. The $378.5 million from the infrastructure bill is the largest federal contribution towards the level system. The Morganza levee is a 92-mile levee system. Because the state requires 35% to be matched for the federal funding, Louisiana, Terrebonne and Lafourche parishes have given $1 billion towards the construction.

The money allotted by the bill will also help pay to improve several floodgates which include Minors Canal Floodgate, Humble Canal Floodgate, and the Gulf Intracoastal Waterway East and West floodgates. It will also help redo the Lockport to Larose levee reach and the Reach A South levee.

The Southwest Coastal Louisiana Hurricane Projection will be allotted $125 million to help raise structures in Calcasieu, Cameron and Vermilion parishes. The program’s goal is aimed at reducing flooding problems and restoring wetlands in areas south of Lake Charles.

Another $783 million will be given to the Corps to allow the hurricane levels in Plaquemines Parish to be elevated to levels able to withstand overtopping from storm surges with a 2% chance of occurring in any year. The West Shore Lake Pontchartrain levee will also receive $453 million which is slated to be completed by end of 2025.

The remaining funds will go to improvements to the Atchafalaya Basin floodway, repairs to levee slides at two Atchafalaya Basin locations, and for dredging of a shoaling area in the basin near Morgan City, build the Bayou Sale East-West tie-in, design and partially build drainage projects in Algiers and repairs to Mississippi River levees and channels throughout the state.

The New Orleans area will also get some of the money to help raise the area’s levees. In the Corps budget for the area, the proposed to spend $3 billion over a 50 year period. This will help keep the levees raised to the 100-year surge protection level.

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Airborne X Adventure Park Now Open on the West Bank

Harvey has a new multi-million dollar entertainment complex that has just opened, Friday, February 4, 2022. The 30,000 square-foot amusement center is located at 901 Manhattan Boulevard in Harvey on the West Bank and is called Airborne X Adventure Park.

The new Airborne X is in the building that once housed Bed Bath & Beyond in the Westbank Village Shopping Center. This will be the second Airborne X location as the first location opened in Denham Springs in 2018. Owner Alex Xiao decided to open the trampoline park after seeing the success the Denham Springs location has had.

The entertainment complex has over twenty arcade games, a cafe, and five birthday party suites. It also includes sky riding over the trampoline park, obstacle courses, freestanding climbing structures, a rope course, and a three-level soft play area for the younger kids. It will employ around 80 employees both part-time and full-time.

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Bywater To Open in New Orleans in 2022

Bywater is a 93-room poshtel that is opening this year in New Orleans. This project was originally to be built in 2018 but was delayed due to securing funding and the start of the pandemic.

“We had to put the capital together to make it all happen,” Kelso said. “I said [to investors], ‘We can build during the downturn and open at the finish, and New Orleans is resilient.'”

A poshtel is a new concept that has become popular in the hotel industry. Some call them a “posh” hostel. They are usually in unqiue buildings and offer many perks and freebies. They offer services and amenities that hostels do not especially privacy. These accommodations have both private rooms and shared rooms.

The $25 million poshtel will be located on the riverfront at the intersection of Chartres and Mazant. The project is being built by developer Ted Kelso and hotel brand ARRIVE by Palisociety. Originally the building would include 43 upscale hostel-style rooms targeting travelers in their 20s and 30s. New Orleans residents gave a lot of push back so the team came up with a solution.

“We transitioned from a hostel model to more of a traditional hotel. That made sense after talking to neighbors about what was right for the neighborhood,” Kelso said. “ARRIVE is perfect. Their [properties] are all in neighborhoods similar to Bywater, demographically, so that’s what sparked the transition to a hotel.”

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Freddie Mac Wants To Help Renters Build Up Their Credit Through

Renters now have a chance to use their rental payments to help build their credit scores. Freddie Mac has a new program that allows renters to use their on-time monthly rent payments to build up their credit. This is good news for the renters but also for the owners or managers of rental properties as an incentive. Property owners or rental managers can now report on-time rental payments to the credit bureaus.

This new program’s purpose is to help those who do not have a credit score. It is reported that 45 million U.S. adults have no credit score. In fact, less than 10% of renters currently see their on-time rental payment history reflected in their credit scores. This is preventing many U.S. adults from getting some of the best mortgage rates in order to purchase a new home.

“Rent payments are often the single largest monthly line item in a family’s budget, but paying your rent on time does not show up in a credit report like a mortgage payment,” says Michael DeVito, CEO of Freddie Mac. “That puts the 44 million households who rent at a significant disadvantage when they seek financing for a home, a car, or even an education. While there remains more to do, this is a meaningful step in addressing this age-old problem.”

Esusu Financial Inc. technology is used by Freddi Mac to report rental payments and rental data to all three credit bureaus. When a renter misses a payment, it will automatically unenroll renters. As an incentive, Freddie Mac will allow closing cost credits on multi-family loans to those who chose to use the Esusu platform.

“At present, the most common way for rents to be reported to the credit bureaus is when there is a missed payment that has gone to a collections agency,” says Alexis Sofyanos, senior director of Equity in Multifamily Housing at Freddie Mac. “Freddie Mac wants to flip that script, so that renters who pay their rent on time and in full each month get credit for doing so, while also putting in safeguards for the most vulnerable.”

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Plaquemines Parish New Oil Terminal Cancelled

Tallgrass Energy Partners is now going back to the drawing board to discuss different options for the property in Plaquemines Parish that was slated to become an oil export terminal and pipeline. The Midwest energy company called off the $2.5 billion project last month as they felt the world is going another way away from oil and gas.

The property which is located on 200-acres up the Mississippi River from Ironton is owned by the Plaquemines Port Harbor & Transit District. Tallgrass is leasing the property from the port and both companies are discussing “other ways to develop its Ironton property.” Some of the discussions were using it for a distribution center or warehousing.

After a study conducted, the company sees that the market is changing. Many are swaying away from oil and gas and looking into other alternatives. If the project had been completed, the terminal would have been able to store around 20 million barrels of oil.

The site which was part of the St. Rosalie Plantation is part of the communities history. In fact, many residents of Ironton descended from slaves who lived at the plantation. Many residents were opposed to the project because it would be built over the plantation’s cemetery.

“Integrity and respect are core Tallgrass values,” William Moler, CEO of the Leawood company said. “As part of our PLT permitting process, our cultural survey work identified a cemetery and potential artifacts consistent with what community members shared about the history of the site. Since then, we reduced our development footprint to protect those areas and engaged with the Ironton community and other local stakeholders on an appropriate path toward memorializing them.”

Ironton residences were excited by the news of Tallgrass’ decision to stop the project. Residents are still struggling from Hurricane Ida’s destruction to Ironton. Many residents moved away from the area after the storm surge flooded most of the community. Those who are still there feel like they have a victory.

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