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HUD Gives O.K to the Gulfport $570MM Port Expansion

By
Mortgage and Lending with Centennial Mortgage Corp.

The U.S. Department of Housing and Urban Development (HUD) has accepted the State of Mississippi's revised plan to restore the Port of Gulfport, which was heavily damaged by Hurricane Katrina.

As part of the work, the port wiill be elevated to 25 feet above sea level to better protect it from storm surge, according to a press release from the Mississippi Development Authority.

MDA has allocated $570 million to the project.

"Rebuilding the Port of Gulfport stronger than before is essential to not only the economy of the Gulf Coast but the entire state," Gov. Haley Barbour said. "Like the coastal community, HUD recognizes how much this restoration plan will boost each component of our storm recovery plan, including our efforts to ensure people have good jobs to complement the $4 billion we've allocated to housing recovery." Read more about this story in Saturday's Sun Herald.