Mayor Nagin: "Unions Rock"

This quote doesn't show up in the T-P story but I nearly fell out of my chair when I heard it on TV last night. The AFL-CIO investment is the most comprehensive rebuilding plan yet put into play by any other entity public or private. Here are the major points published on the AFL-CIO site.

AFL-CIO Gulf Coast Revitalization Program

• Multifamily Housing: HIT will provide $250 million in direct financing for the production or rehabilitation of affordable housing. The goal is to build or renovate 5,000 to 10,000 homes in New Orleans and other Gulf Coast communities. This investment is expected to leverage an additional $150 million from other sources.


• Commercial and Economic Development: BIT will invest $100 million for commercial real estate development—focusing on hotels and other projects that create construction and service jobs—in New Orleans and other Gulf Coast cities. These investments are expected to leverage an additional $150 million. The ITC also will explore the feasibility of alternative housing solutions, such as manufactured and modular housing.


• Health Care and Hospital Facilities: HIT and other partners are exploring $100 million in investments in health care facilities and hospital construction to address the shortage of health care facilities in the region.


• Home Ownership: HIT will designate $250 million to enable union members and public employees to purchase homes throughout the region. HIT also will work with local groups on innovative home-ownership programs for low-income families, such as limited equity co-ops and the Section 8 program.


• Long-Term Commitment: ITC has leased office space in downtown New Orleans where experienced staff will work with the city and other labor, financial and community organizations throughout the Gulf Coast region to carry out the investment program.

Almost makes you believe in exploding pies.