Responses to “Frequently Asked Questions”

Based on constant communications with citizens, LCIA and NORA typically receive similar questions from interested buyers.  A summary of the responses to those questions are as follows:

(Q)  Can I list more than one property on my formal offer form? 

(A)  Yes.  Although you are only permitted to purchase one property (or two, if adjacent) through the Phase 2 program, if there is more than one lot in which you are interested, please list them as well.  Since adjacent property owners take priority, it is possible that some properties will not be available to you if adjacent owners submit offers.  A representative from LCIA or NORA will contact you after the July 31st deadline to discuss your options with you.  The intent is to be flexible with those interested buyers who timely submit their formal offer forms.

(Q)  Will the State demolish the existing structures prior to closing on the property?

(A)  Yes, the State of Louisiana will demolish the existing structure, remove the slab, and fill the lot to grade (at the State’s expense) prior to a buyer’s official closing on the property.   Homes in South Lakeview will be handled separately as they fall under the jurisdiction of the NCDC.  As a result, those homes will be sold at land plus house value and any renovations and/or demolitions will be subject to NCDC approval.

(Q)  Will additional lots be made available after the conclusion of the Phase 2 program?

(A)  Yes, but the number and location of properties are unknown at this time.  By the end of the year, NORA will have sent all Lot Next Door letters to eligible parties.  If LND eligible parties decline their rights, those lots are then eligible to be sold to the general public.  Likewise, if there are properties left over after Phase 2, those properties will be combined with the properties that were rejected under the LND program.  Those properties will be sold by NORA in 2010.  The details of that program are not finalized at this time.

(Q)  When do I have to begin construction on my new lot?

(A)  You must take steps to begin construction within 12 months of your official closing on the property with NORA.  The 12 months does not begin on the date that you submit your offer or the date that you are notified that your offer has been accepted.  The closing date is the key date.

(Q)  Does NORA or LCIA provide any financing or financial incentives for the Phase 2 program?

(A)  No.  Neither NORA nor LCIA plays any role in the providing of financing or incentives for Phase 2 purchasers.  In addition, the Growing Home Program is something unique to NORA’s Lot Next Door program and is not available for Phase 2 purchases.

(Q)  What happens if I fail to submit my offer form to NORA by July 31st?

(A)  The Phase 2 program will close on July 31st at 4:00 pm.  At that time, NORA will only consider those forms and offers submitted on a timely basis.  If you fail to submit your offer form by July 31st, you will have to wait until the remaining properties are made available for purchase in 2010.