![Funding Secured for New Hospital in New Orleans](http://townsquare.media/site/180/files/2012/10/150837240-630x420.jpg?w=980&q=75)
Funding Secured for New Hospital in New Orleans
NEW ORLEANS (AP) — New Orleans Mayor Mitch Landrieu has announced federal mortgage insurance approval that will allow construction to begin on a full-service hospital in eastern New Orleans — one of the areas devastated by flooding in 2005 when levees failed during Hurricane Katrina.
Landrieu's office said Monday that the U.S. Department of Housing and Urban Development made a commitment to insure a $97.6 million loan for the hospital. His office said the project, valued at a total of $130 million, will restore full-service health care to residents in New Orleans East.
The new hospital is planned for the site of the former Pendleton Memorial Methodist Hospital.
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