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New Orleans officials unveiled a $1.06 billion plan on Thursday to rebuild their city, saying they could no longer wait for federal aid 19 months after Hurricane Katrina.
The plan targets 17 "recovery zones" for commercial development, including hard hit areas such as the Lower Ninth Ward and New Orleans East.
They said the money would come from state funds and from the sale of bonds, and be spent on infrastructure repair and other projects with the hope of attracting private investment to spur new business.