B&N Chief Gives $20M for Katrina Relief

Money will support building of 20 new houses

By Matt Cantor, Newser Staff

Posted Feb 26, 2008 8:01 PM CST

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B&N Chief Gives $20M for Katrina Relief — Leonard Riggio, left, chairman of Barnes & Noble, smiles with his wife Louise Riggio at the announcement of a $20 million donation to build houses for low-income families in New Orleans Tuesday, Feb. 26, 2008.(AP Photo/Alex Brandon) (Associated Press)

The chair of Barnes & Noble and his wife are donating $20 million to New Orleans in what may be the biggest Katrina relief project yet, the AP reports. Leonard Riggio said today that the funds will build 20 new houses in a racially mixed neighborhood for lower-income families. Those who win a lottery can trade in a storm-damaged home for a new one.

Riggio broke ground today in a ceremonial kick-off for “Project New Home" in the city's Gentilly neighborhood. Building of the elevated, candy-colored homes will begin in spring and is expected to wrap in about a year. “There’s a sense of urgency to this project,” he said. (Read more Barnes & Noble stories.)