State Treasurer John Kennedy Announces Statewide Bond Commission ApprovalsBATON ROUGE, LA -- The State Bond Commission met February 15 and approved funding for a variety of projects statewide, according to State Treasurer John Kennedy.
“We approved several local
governments’ requests to refinance debt using Gulf Opportunity Zone bonds,” said
Treasurer Kennedy. “Many hurricane-impacted entities in the state are eligible
to take advantage of this provision in federal law to free up much-needed cash
flow. Last year, we approved around $243 million in GO Zone refundings, but
there is still more than $4 billion out there for local governments that need
relief.” Central and North Louisiana - A $500,000 loan for the Caddo Parish Fire District No. 1 for the acquiring, constructing and/or improving fire protection facilities and equipment, including a fire rescue truck. - A $425,000 loan for the Caddo Parish Fire District No. 5 for purchasing fire trucks and other fire fighting equipment. - A $500,000 loan for the Concordia Parish Hospital Service District (Riverland Medical Center) to pay current expenses. - A $3.5 million loan for the Hospital Service District No. 1 in Morehouse Parish to pay current expenses. The approval is conditional upon the district coming back to the Bond Commission once financing is achieved.
- $6 million in bonds for the
Louisiana Housing Finance Agency to refinance debt to save $1.07 million and to
rehabilitate Plantation Apartments in Monroe. - A $600,000 loan for the Hospital Service District No. 1 in St. Helena Parish to pay current expenses. The approval is conditional upon all outstanding certificates being paid. - $150 million in refunding notes for the East Baton Rouge Mortgage Finance Authority to refinance debt and make funds available to finance mortgage loans to qualified homebuyers. - $250 million in Gulf Opportunity Zone bonds and $75 million in taxable revenue bonds for the Louisiana Community Development Authority to build a 925,000 square foot television and film production studio and related facilities in West Baton Rouge. - $17.1 million in GO Zone Bonds for the Louisiana Housing Finance Agency (Canterbury House Apartments) for the purpose of constructing a 216 unit multifamily residential community located in Baton Rouge. - $17.1 million in bonds for the LHFA to construct a multifamily residential community in Baton Rouge.
- $20 million in GO Zone bonds
for the LCDA to finance the acquisition and construction of a barge
manufacturing and maintenance facility to be located in West Baton Rouge. Southwest Louisiana - A $15,000 loan for the town of Basile in Acadia & Evangeline Parishes to allow the future expansion of town facilities. - A $750,000 loan for the town of Vinton in Calcasieu Parish for reimbursing Love’s Travel Stops & Country Stores, Inc. for costs paid by them for public utilities improvements and extensions including water and sewer expansion. - A $223,351 loan for the city of Franklin, Consolidated Sewerage District No. 1 in St. Mary Parish for the establishment, acquisition and construction of sewerage extensions and improvements to serve properties located in the district. - $1 million in bonds for the city of Youngsville in Lafayette Parish for constructing, equipping and furnishing a new fire station.
- A $1.3 million finance and lease
agreement for the LCDA (Goodwill Industries
of Acadiana Project) for the purpose of purchasing an existing building located
at 2435 W. Congress St., Lafayette. New Orleans Area - A $123,000 loan for the St. James Parish Council to purchase fire trucks and other fire fighting equipment. - A $160,000 loan for the Fire Protection District No. 3 in St. Tammany Parish for acquiring, constructing and/or improving fire protection facilities. - $120 million in refunding bonds (a portion of which will be designated Gulf Opportunity Zone bonds) for the Jefferson Parish Council, Jefferson Sales Tax District to refinance debt to save taxpayers $8.17 million and to provide a reserve fund. The approval is conditional upon the parish council submitting an adopted swap policy, using a floating to fixed swap agreement, and submitting a final structure of the swap to the State Bond Commission. - $22 million in bonds for the Louisiana Housing Finance Agency to pay the cost for the acquisition, construction, equipment and rehabilitation of Tanglewood Apartments in the city of Westwego. - $20 million in GO Zone bonds bonds for the LCDA (River Highlands, LLC Project) to finance the acquisition, construction and equipping of an office building in Covington in St. Tammany Parish. - $8.5 million in bonds for the LCDA (Jefferson Westbank Office Building Project) to refinance debt to save taxpayers $1.17 million and to fund a reserve fund. - $17 million in bonds for the LCDA (Jefferson Parish Park Project) to finance the construction, acquisition and improvement of public parks and cultural facilities, including the purchase of necessary land within the parish. - $67 million in GO Zone bonds for the Industrial Development Board of the city of New Orleans, Louisiana, Inc. (Film Factory, L.L.C. Project) for the acquisition, construction and installation of a film studio, film and digital media infrastructure, and a vocational school to train individuals to work in the film industry to be located in New Orleans. - $410 million in GO Zone bonds (preliminary approval) for the Louisiana Public Facilities Authority (Tulane University of Louisiana Project) to refinance debt.
- $25 million in GO Zone bonds for
the Houma-Terrebonne Public Trust Finance Authority to provide a means of
financing the cost of residential home ownership and development that will
provide adequate housing for low and moderate income area residents. Statewide Bond Commission approvals include $10 million in bonds for the Louisiana Public Facilities Authority to be used as state matching funds necessary to obtain grants from the Environmental Protection Agency to capitalize the state’s municipal facilities revolving loan fund.
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