2019 Budget Review for Restore Louisiana Homeowners Program SBA DOB Repayment program
Published December 29 2019 updated December 29 2019 3 min. 58 seconds read
Following the money that the state of Louisiana spends is very difficult since the state seems not to announce new contracts in the HUD official website. You must check often to see if any new contracts have been added to the states OCD-DRU website.
Do you all know Cunningham's Law?
"The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer."
Don't allow misleading or misinformation to cost you. Nearly all of the wrong answers come from not knowing where and how to search for the correct answers.
Budget Review for SBA DOB Repayments.
Pipeline report Nov. 2019 is referenced below.
- 8,648 applicants continue to be offered offered Zero dollars. SBA processing from Zero Grant award numbers: 2,837 in which 1,168 Declined remaining 1,669 for repayments. Still leaves 4,227 for >120% and an estimated 4,000 between 80% and 120% AMI.
- 12,895 applicants determined ineligible, this is a 2,673 increase in 30 days
- 5,781 applicants withdrawn or rescinded from program.
- 17,581 applicants were offered grants totaling $670,002,030.27 This is 2,000 over the Governors requested cap from 2018.
- 15,629 applicants obligated grant funds totaling $599,753,368.61
- 14,588 applicants had $485,410,453.92 distributed to them.
As of the Nov. 2019 pipeline report the state estimates a total of $670,002,030.27 worth of grants to honor with a payment. This grant number will increase as more homeowners are screened and vetted for SBA loan repayments.
Will the state have enough money to pay homeowners grants in accordance to HUD's June 20, 2019 Guidance?
Many homeowners are worried that the money will run dry before the first HUD audit for SBA repayments scheduled July 2020.
Hard figures are hard to come by with the state of Louisiana OCD-DRU releasing at times numbers that appear to be more about Public Relations and Communications rather than actual HUD DRGR figures. We've even seen HUD NOLA accept numbers that were questionable.
Follow the contact numbers, administrative costs and fees. What is not included in this first list is program costs such as cost share, infrastructure, economic development which are all percentages of allowable funding after HUD defined milestones are accomplished.
2016 Great Floods Allocations total: $1,708,407,000
- State of Louisiana Administration 5% = $85,420,350
- Aguilar Consultants, LLC. $49,999
- Alpha Media and Public Relations $33,413
- Arcadis $1,310,573.75
- Ardyn M. Thriffiley and Associates, Inc. $48,000
- Capital Region Planning Commission $360,000
- Center for Planning Excellence, Inc. (CPEX) $49,845
- Cohn Reznick LLP $10,000,000
- Compass Group Affordable Housing, LLC $2,944,000
- Conduent State & Local Solutions Inc. $491,412
- CSRS, Inc. $1,500,000
- DCMC Partners $49,999
- Disaster Metrics, LLC $7,350
- DWD Technology Group $55,000
- Emergent Method, LLC. $1,000,000
- Fishman Haygood, LLP $380,000
- Franklin Associates, LLC $7,143,250
- Fugro $2,312,117
- Governor&rsquos GOHSEP $558,000
- GrantAnalyst.com LLC $6,100
- Greater Baton Rouge Economic Partnership, Inc. $20,000
- Henry Consulting, LLC $500,000
- Hunt, Guillot & Associates, LLC $10,000,000
- Innovative Emergency Management $353,000,000
- Louisiana State University $11,755
- LSU Ag and Mechanical College $205,718.50
- Pan American Engieners, LLC. $9,000,000
- Ramboll Environ US Corporation $2,150,000
- SCI Research and Consulting, Inc. $24,496
- S.E. Huey Co. APC $49,400
- Spears Consulting $40,000
- Start Corporation $2,802,482
- Tembua, Inc. $175,000
- The Workforce Group, LLC $10,000,000
- Volunteers of America $49,999
- W Resources $25,000
- Westaff $25,686
- Xerox Corporation $988
- Zehnder Communications $49,999
Total Administrative Costs: $501,849,932.25
Total Allocated to 2016 Floods: $1,708,407,000 - $501,849,932.25 = $1,206,557,067.75 for all programs including Homeowners Program.
November Pipeline Reports shows
- 17,581 applicants were offered grants totaling $670,002,030.27
The above number does not include an estimated 5,000 SBA DOB Repayment program applicants.
$1,206,557,067.75 - $670,002,030.27 = $536,555,037.48
APA 11 - $172 million
APA 10 - $5 million
I'll update with all program numbers to find the final dollar needed to do as HUD Guidance of 2019 instructed the state to do.
Updating Program Costs for Economic Development and Infrastructure costs.
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