NEW ORLEANS REDEVELOPMENT AUTHORITY’S REALM PROPERTIES (Citywide)

NORA’s REALM (Real Estate Acquisition and Landbanking Mechanism) program was created to jump-start private investment in focus areas by making blighted properties readily available to non-profits, individuals, and investors. Its impact, therefore, stood to be profound. Unfortunately, NORA’S efforts have stalled, leaving the REALM properties stuck in limbo, unavailable for purchase and deteriorating rapidly. NORA’s other signature effort, the Blighted Properties Removal Program, allowed private entities to force the sale of legally blighted properties. This effort has been on indefinite hiatus since Katrina. NORA now sits in the odd position of being a perpetuator of blight. The revival of one or both programs could make a huge difference to the recovery of historic and newer neighborhoods alike.
THREAT: Government inaction