Total Applications: 17,600Louisiana
Closings Calculated: 11,827 (80.5% of total, 81.7% of eligible)
Paid: 10,002 (56.8% of total, 69.1% of eligible)
$ Paid: $665,404,722
Average $ Paid: $66,527
Total Applications: 101,657If we were up to Mississippi’s speed and had paid 56.8% of our total applications (57,741), at their Average $ Paid ($66,527), we would have paid out $3,841,335,507.
Closings Calculated: 30,357 (29.8% of total)
Average $ Calculated: $82,581
Estimated $ Paid: $21,305,898 (Average $ Calculated times Number of Paid)
For perspective, consider that in January 2006, one year ago, the first round of Community Development Block Grants was given out.
Mississippi received $5,058,185,000.
Louisiana received $6,210,000,000.
Mississippi got 86.8% more in that first round of CDBGs than it has paid out more than halfway through their housing plan. If we had paid out at the same rate at Mississippi’s lower average payment, we would have used up over half (61%) of our first allocation. In fact, assuming our average calculated payment remains consistent at $82,581, we will completely use up that first allocation about three quarters of the way through our total applications.
What is my point? Though Mississippi and Louisiana are using similar grant programs, their progress can not be similarly compared. Louisiana’s destruction was greater in scale and complexity and was grossly under-funded at the offset.
Having said that, 258 closings out of 101,657 applications is abysmal. And Mississippi should be congratulated for their able administering of their home grant program.