It's called subsidence, Sham. The entire region is sinking because of levees. The very structures that keep out the floods also prevent sedimentation from keeping pace with subsidence. Spread five feet of dirt now to build up, and it'll just sink back down to where it was in a couple of decades. That's how NOLA came to be so far under sea level.
Is there a dirt shortage facing the globe or something? If we run low, we'll bring more in. Now, why don't you help us by starting a dirt collection in your hometown? I'm sure there's plenty of dirt there. Here's a hint. Look under the snow.
Then remove the levees and the problem is gone. Don't rebuild on below-sea-level land. Let the Mississippi naturally flow into the Atachafalaya basin as it already wants to do and you won't have to worry about New Orleans flooding any more either. Win - win, for everybody.