President Defends NO Strategy

President Bush says he is "comfortable" with the federal government's strategy for rebuilding New Orleans despite the slow progress so far.The federal government is committed to removing the debris and rebuilding the levees and infrastructure, the president told the National Newspapers Association. In addition, Community Development Block Grant funds will provide direct aid to homeowners to repair and rebuild their homes. "I like that idea better" than setting up a new government agency to direct the rebuilding, Mr. Bush said. The CDBG program "allows individual homeowners to make decisions," he added. However, the president noted that the debris removal in parts of New Orleans has been slow because so many homeowners are displaced and living in other parts of the country. But he said he expects that homeowners will return to inspect their homes and allow debris removal as the levees are rebuilt, CDBG funds become available, and a redevelopment plan is put in place. "All this is coming together -- the money is coming together, the levees are coming to together, and the rules about rebuilding are coming together," President Bush said.

For reprint and licensing requests for this article, click here.
Law and regulation
MORE FROM NATIONAL MORTGAGE NEWS