24/7 Newsfeed

Put Reason 24/7 on Your Site

RSS

Follow Reason 24/7 on Twitter and via RSS

$700 Million in Hurricane Aid Unaccounted For

A new inspector general's report found that about $700 million awarded to help Hurricane Katrina victims fortify their homes from future floods is unaccounted for, which Congressional leaders say is a troubling sign of the need for tighter controls as Superstorm Sandy rebuilding efforts intensify this spring.

The Department of Housing and Urban Development is pressing the state of Louisiana to recover the money given to homeowners to elevate their houses. But David Montoya, the inspector general of the agency, told ABC News that the likelihood of reclaiming the money was "slim, at best."

"We have $700 million that we can't account for and that certainly did not go to elevating homes and preventing future damage from storms," Montoya said in an interview in his office in Washington.

Source: ABC News. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

advertisement