Foundations Back Housing Effort in New Orleans
October 16, 2007 | Read Time: 1 minute
Ten foundations have pooled nearly half of the $25-million planned to start the Community Revitalization Fund in New Orleans to support rebuilding projects over the next five years, reports The Times-Picayune, in New Orleans.
The focus of the fund’s work will be on replacing low-cost housing, the newspaper reports. Participating groups include the Bill & Melinda Gates, Greater New Orleans, Conrad N. Hilton, W.K. Kellogg, and Rockefeller foundations. These and other foundations have pledged $11.25-million so far.
Grants of $25,000 to $500,000 will be awarded to mixed-income and mixed-use developments, the first of which are expected to be announced soon, the newspaper reports.
Read more about the Rockefeller Foundation’s efforts after Katrina in a Chronicle of Philanthropy article.
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