As announced today by Congressman Garret Graves, the United States Department of Housing and Urban Development (HUD) will allocate $13 million of “sanction funds” to aid recovery in Baton Rouge and Lafayette.

Sanction funds are previously unused fund recuperated from grantees and may be used for infrastructure needs, small business and economic development needs, and even individual homeowner needs.

A recent article from HousingWire examines the impact of the 2016 Louisiana floods on the housing market of the city of Baton Rouge and surrounding areas.

The article notes that prior to the flooding, the supply of available housing in Louisiana’s capital city was already low.

Now, after thousands have been displaced from their homes due to the unexpected flooding, that market is experiencing even more demand. The market is not only being swamped by home buyers, but also renters, all seeking temporary refuge from home displacement.

Read the full article here.