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Buyouts torpedoed, not sunk  view story
Thursday, January 26, 2006
Frank Donze, Gordon Russell, and Laura Maggi - - New Orleans Times-Picayune
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The White House's public opposition this week to legislation that would have offered quick buyouts to owners of heavily damaged properties in Louisiana throws a wrench into the plans of local communities, in particular New Orleans, that were counting on the buyout program to serve as a mechanism for quick redevelopment in the wake of Hurricane Katrina.
But while most state and local leaders saw the Bush administration's decision as a serious setback, they didn't view it as fatal. In the short term, they acknowledged, the absence of the "Baker bill" legislation will make it difficult for homeowners already stuck in limbo for the past five months to make informed decisions in the near future about whether to rebuild or sell their flooded properties.
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