Catholic school in New Orleans may have to pay back millions to FEMA

Holy Cross School in New Orleans may have to repay the federal government $48.9 million, more than half the money it received to rebuild after Hurricane Katrina. The New Orleans Times-Picayune says a report from the U.S. Department of Homeland Security has found that the Catholic boys school does not have enough flood insurance on its new buildings. Holy Cross, a grade 5-12 school, was devastated in post-Katrina flooding. It rebuilt in a new location in 2009. The Federal Emergency Management Agency requires that applicants for disaster assistance maintain adequate insurance for the hazard that caused the initial damage.