• Yahoo News
Where did all the money go?
“Your guess is as good as mine,” David Montoya, the inspector general of the Department of Housing and Urban Development, says of $700 million in missing taxpayer money that Louisiana homeowners were given in the wake of Hurricane Katrina to elevate and protect their homes from future storms.
A new report released from the inspector general’s office shows that more than 24,000 homeowners who received grants of up to $30,000 to elevate their homes either misspent or pocketed the money.
“The fact of the matter is that the money they received was for a specific purpose and the specific purpose was to elevate these homes to avoid future catastrophes,” Montoya tells Power Players.
He rates the home elevation program as little more than a complete failure.
“Considering there was just under $1 billion earmarked for this particular program and there's $700 million that wasn't used for that, I’d give it a very low D,” he says.
Join us on our
Share this page with your friends
on your favorite social network: