FEMA underestimated Katrina repair costs
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Many initial estimates by the Federal Emergency Management Agency of the cost of repairing thousands of water-logged buildings, cracked pipes and crumbling streets in hurricane-staggered Louisiana were way too low &#151; and some reconstruction projects are being held up because of it.
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Only $1 billion of the $77 billion the city is seeking from the Army Corps of Engineers is for infrastructure damages it says it suffered because of levee breaches during Hurricane Katrina. The rest is for such things as the city's tarnished image and tourist industry losses.
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In the neighborhood President Bush visited right after Hurricane Katrina, the U.S. government gave $84.5 million to more than 10,000 households. But Census figures show fewer than 8,000 homes existed there at the time.
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The city of New Orleans filed a $77 billion damage claim against the Army Corps of Engineers  Thursday for flooding that inundated the city when levees failed after Hurricane Katrina in August 2005.
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Thousands of Gulf Coast students are still displaced two years after Hurricane Katrina devastated the region, and millions of dollars worth of school reconstruction projects remain unfunded, according to a report released Wednesday.
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Hurricane Frances is expected to be  less costly for insurers than feared, though high winds and  flooding generated billions of dollars in damage in Florida and  brought the state to a virtual standstill during a three-day  holiday weekend.
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Estimates range from $3B to $10B following second major storm to hit Florida within a month. NEW YORK (CNN/Money) - Losses from Hurricane Frances are now forecast to make it the fifth-costliest storm in US
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A year and a half after Hurricanes Katrina and Rita, FEMA is auctioning off at fire-sale prices thousands of trailers used by storm victims, raising fears among mobile-home dealers that the government will flood the market and depress prices.
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New Orleans' latest plan to recover  from Hurricane Katrina calls for a 10-year rebuilding program  costing $14 billion that will leave some neighborhoods still  sparsely populated.
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A week after Hurricane Katrina, a FEMA official in charge of streamlining the flow of disaster aid issued a directive that would have cut through the red tape and expedited a staggering 1,029 rebuilding projects and $5.3 billion.
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The government is squandering tens of millions of dollars in Hurricane Katrina disaster aid, in some cases doling out housing payments to people living rent-free, investigators said Wednesday.
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LONDON (CBS.MW) -- Hurricane Frances, the second hurricane to hit Florida in a month, will cost insurers between $3 billion and $10 billion, according to the most recent estimates from the industry&#39;s leading catastrophe modeling firms.
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The government's repairs to New Orleans' hurricane-damaged levees may put the French Quarter in greater danger than it was before Hurricane Katrina, a weakness planners said couldn't be helped, at least for now.
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RALEIGH, NC -- Progress Energy says it will take nearly $300 million to restore downed electrical lines, splintered utility poles and blasted transformers in hurricane-ravaged Florida.
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Hurricane Frances may have almost doubled the estimated recovery cost for Florida as relief officials gear up to deal with
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MIAMI - Insured losses in the United States from Hurricane Ivanâs assault on the Gulf Coast could run from $2 billion to $7 billion, a risk assessment company said Thursday as it slightly reduced its estimate of the cost of the deadly storm.
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A hurricane disaster relief package approved last week includes money for fixing communications equipment at NASA&#39;s Kennedy Space Center.