A total of $565.3 million in federal community development block grants will be distributed to 53 parishes in Louisiana to help them recover from hurricanes Ike and Gustav, which hit the state in 2008.

Paul Rainwater, executive director of the Louisiana Recovery Authority, said the funds will be distributed directly to the parishes rather than be allocated by the agency.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.