This is the first time we’ve had an official finance issue and I think Damon Burns and Finance New Orleans could not have made a more perfect cover story.
First, there’s the fact that this quasi-governmental organization has been working for 46 years to address a critical need in our region — affordable housing. It is the mother of financial issues for so many people. With the dramatic rise of interest rates and insurance rates, what used to be a big problem has now reached the critical stage.
Then there’s the way that Finance New Orleans is working toward a solution — by helping potential homeowners find the financing they need by providing unique mortgage options by working with area financial institutions. Then there’s the fact that Finance New Orleans itself has morphed into what has become known as a green finance authority — a green bank and housing authority married into one. The goal is to use new technologies and methods from around the world to fight back against rising insurance rates by making our housing stock more resilient to climate change.
Finally, there’s the fact that Finance New Orleans itself is in search of money to make all of this happen.
In what is traditionally the scariest month of the year when it comes to hurricane threats — the month where we collectively hold our breaths — will we be able to turn that fear into action? Can our government — national, state and local — and our financial institutions and investors make the moves that need to happen to help us all sleep better?
I hope so.
Thanks for reading,
Kimberley Singletary, Editor
Kimberley@BizNewOrleans.com
