Nearly three-quarters of New Orlean residents who have applied for federal grants say they will rebuild their Hurricane damaged homes in flood prone areas, even though city restrictions are unlikely to protect their homes if the levees fail again. The latest plan calls for the Louisiana Recovery Authority to issue grants to cover uninsured losses. To qualify, homeowners in and around the city must raise their homes by at least 3 feet and purchase federal flood insurance which is subsidized by taxpayers throughout the United States.