Louisiana’s Coastal Protection and Restoration Authority has put off deciding how to spend $300 million for flood-protection projects in case the money is needed for the New Orleans-area’s levee bills.
The Army Corps of Engineers is putting in $12.9 billion in levee repairs and improvements. Louisiana’s share is $1.8 billion.
So far, federal officials have rejected state requests to let Louisiana pay the money over 30 years.
Authority chairman Garret Graves said that the $1.1 billion possibly due in 2010 amounts to one-third of Louisiana’s discretionary budget.
He said the Army Corps of Engineers may delay the payment for a year, but it would still have to be paid entirely within a year after the work is done. It’s expected to be finished in 2011.
Information from: The Times-Picayune,
Was this article valuable?
Here are more articles you may enjoy.
How Niche Insurance Shielded Bad Bunny From Bad Weather 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Four Georgia Troopers Fired in Vehicle Pursuit-Insurance Scheme 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
