By Ariella Cohen, The Lens staff writer |
A $651 million redevelopment of the Iberville public-housing complex will be paid for with loans from the state, government-backed bonds and money from selling low-income housing tax credits, Housing Authority of New Orleans plans show. First submitted to the U.S. Department of Housing and Urban Development in the fall as part of an application for a federal Choice Neighborhoods grant, these plans gained new relevance Wednesday when HANO chief David Gilmore gave a first unequivocal commitment to redeveloping Iberville whether or not the federal government provides the sought-after $62 million grant.