Two other breaks in the levee farther downriver rejected because of lack of sediment.
KIPP expected to finance a K-8 campus elsewhere on its own, freeing money to rebuild Cohen.
The levees were reconstructed to shore up insurable property values, not to eliminate the threat to human life.
Relatively small deal comes just after unrelated settlement between city and union.
Damages to natural resources amounted to $8.3 billion of $20.8 billion agreement.
Sudden unpredictable assessment leaps are hard on owners — and bad for the city.
General fund budget of $593 million for 2016 is up $60 million over this year's spending plan.
Deal keeps secure any legally protected information accidentally provided by the city.