Demonstrative Progress• 77% of pre-storm population• 71% of pre-storm job figures• 77% of pre-storm commercial

activity• $5 Billion invested in 68,000

housing units• $15 Billion in improved hurricane

protection

Major Challenges• 80,000 jobs lost in the metro area• 50% increase in rents• More than 60,000 vacant homes• Damaged infrastructure• Diminished services• Minimal private investment

While the recovery of the region and particularly the City of New Orleans is progressing better than many national experts originally predicted, there are significant challenges that must be addressed as we move forward.

Population

The Metropolitan Area has 88% of its pre storm population– Jefferson Parish is back to pre-storm levels– St. Tammany, St. Charles and St. John the Baptist Parishes have grown– Orleans, Plaquemines and St. Bernard Parishes have substantially fewer

residents

Source: U.S. Census and GCR & Associates, Inc. using data provided by Entergy Louisiana and ESRI, Inc.

Key Stats for New Orleans

The City of New Orleans continues to recover– Approximately 77% of its pre-storm population has returned– While very high, vacant residential properties continue to be absorbed– Over 70% of the jobs based in Orleans Parish have returned– Commercial activity is currently at 76% of pre-storm levels– While increasing, school enrollment continues to lag other indicators

Progress Throughout the City

January 2006Many neighborhoods were nearly empty in the early months of 2006

August 2009Most neighborhoods now have over 60% of their pre-storm population

Blight is a Problem*Red parcels indicate a vacant home or empty lot

Estimated Single Family Home Value = $395,4423,875 units occupied pre-Katrina but now vacant.

Lakeview

Estimated Single Family Home Value = $177,9606,502 units occupied pre-Katrina but now vacant.

Gentilly

Rents have Increased

Fair Market Rent for a 2-Bedroom Unit

Affordability Issues

Source: Louisiana Workforce Commission, Spring 2009, HUD-published Fair Market Rents for 2009, and Low Income Housing Tax Credit rent limits for New Orleans MSA provided by Novogradac and Company, LLP

Housing Affordability Gap for Top Ten In-Demand Occupations

Job Loss is an Impediment

Source: Louisiana Workforce Commission

Employment by Industry for New Orleans MSA

Emerging Trends

• Growing civic interest and participation

• Emerging community of young, civic-minded professionals

• Burgeoning health care and film industries

• “Green” Movement• Improving public education• Many centrally located

mixed income housing developments

Growing Concerns

• Blighted and abandoned homes• Post recovery economic drivers• Stagnant job growth• Many residents do not have the

financial means to rebuild• Limited access to affordable

healthcare, childcare and transportation

• A high and unabating crime rate• Confidence in our hurricane

protection and loss of coastal areas

What the Future Holds

• While the population of the City will continue to grow, it will likely not reach pre-Katrina levels in the near future

• Our capacity to absorb or redevelop blighted and abandoned homes will pace the recovery in many neighborhoods

• As our population continues to grow, we move closer to our pre storm demographic profile

• With more than $20 billion in new investments, the city has the potential to emerge as a stronger, more resilient and economically diverse community

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