State Treasurer John Kennedy Announces Statewide Bond Commission ApprovalsBATON ROUGE, LA -- The State Bond Commission met on November 16 and approved funding for a variety of projects statewide, according to State Treasurer John Kennedy.
“In addition to the projects we approved statewide, we signed off on a local
government request from St. Charles Parish to restructure debt using Gulf
Opportunity Zone bonds,” said Treasurer Kennedy. “Last year, Congress gave local
governments in the state the authority to advance refund general obligation debt
on a tax-exempt basis a second time for up to $4.5 billion in bonded
indebtedness. Since the federal legislation passed, we have approved $244
million in
advance refundings for local governments, and there is plenty of money still
available for hurricane-affected local governments that need to restructure debt
to relieve financial pressures.” Central and North Louisiana - A $250,000 loan for the North Bienville Parish Fire Protection District for acquiring and purchasing fire trucks and fire fighting equipment. - $1.2 million in bonds for the Pine Hill Waterworks District No. 8 in Caddo Parish for waterworks system construction and improvements and to establish a reserve fund. - $2.49 million in bonds for the town of Vidalia in Concordia Parish to refinance debt, saving taxpayers $192,598. - $15 million in bonds (preliminary approval) for the Rapides Finance Authority to provide funds for down payment assistance for prospective borrowers under the program.
- A $180,000 loan for the Tangipahoa Parish Rural Fire Protection District No. 2 to purchase a fire truck and fire fighting equipment. - A $725,000 loan for the West Feliciana Parish Police Jury to provide funds for the replacement of the athletic track at the West Feliciana High School; the installation of a public skating facility at St. Francisville Park and a walking trail from St. Francisville Park to Parker Park; the enhancement of the parish sports park barn and barn area for an agricultural center; and the installation of structures at the parish sports park ball fields. - $12.5 million in GO Zone bonds for the Hospital Service District No. 1 in East Baton Rouge Parish to construct two medical office facilities for the benefit of Lane Regional Medical Center; to construct and renovate an office building for the Zachary Family Practice Group; to construct a cath lab including any renovation costs and equipment purchased; and to acquire and install a CT scanner. - $17 million in GO Zone bonds for the Louisiana Housing Finance Agency to finance the construction of a 216-unit multifamily residential community in Baton Rouge. - $10 million in bonds for the Louisiana Community Development Authority to refinance debt to provide additional financing for the Sheltering Palms Project. - $25 million in bonds for the LCDA for upgrading the city of Denham Springs sewer treatment plant; expanding the city water distribution system to unincorporated areas; renovating and rehabilitating sewerage manholes; reclaiming sewer lagoons, and making additional repairs and expansions needed to maintain the city’s water distribution system. - $7.5 million in GO Zone bonds for the Industrial Development Board of the city of Donaldsonville to finance the acquisition, construction and equipping of an approximately 42,000 square foot USDA food manufacturing plant and research and development facility for Chef John Folse & Company, Inc. - $41.6 million in GO Zone bonds (preliminary approval) for the East Baton Rouge Mortgage Finance Authority to provide adequate housing for low- and moderate-income residents of the parish and to expand the supply of funds available for mortgage loans. - $21 million in bonds for the LPFA for financing or reimbursing the cost of the acquisition of certain information technology software and medical, diagnostic and related healthcare equipment for the benefit of General Health System and Baton Rouge General Medical Center. - $15 million in bonds for the LPFA for the planning, design, construction, furnishing and equipping of courthouse facilities for use by the Nineteenth Judicial District Court, Family Court of East Baton Rouge Parish and the offices of the Clerk of Court.
Southwest Louisiana - $1.522 million in bonds for the Allen Parish School Board to refinance debt, saving $41,515. - $988,000 in bonds for the Allen Parish School Board to refinance debt, saving $27,643. - $3.5 million in GO Zone bonds (preliminary approval) for the city of Jennings to renovate a portion of the hospital and adjacent medical office building to provide space to accommodate a cardiology department and cath lab in the hospital and administrative office space in the medical office building. - $15 million in GO Zone bonds (preliminary approval) for the IDB of the Parish of Vermilion to finance the cost of establishing an aquaponics farm which includes acquiring 26 acres of land and improvements including buildings, greenhouses and fish tanks; renovation and rehabilitation of facilities; acquiring fingerlings; and constructing roads and fencing in Abbeville. - $85 million in bonds (preliminary approval) for the LPFA for acquiring, constructing, installing, renovating, equipping and upgrading health care and related facilities at Lake Charles Memorial Hospital and its Gauthier campus and office facilities.
New Orleans Area - A $125,000 loan for the St. Tammany Parish Fire Protection District #3 for acquiring emergency vehicles. - $34 million in bonds, $8.25 million of which will be GO Zone advance refunding bonds, for the Consolidated Waterworks and Wastewater District No. 1 in St. Charles Parish for waterworks system construction and improvements. - $3.75 million in bonds for the St. John the Baptist Parish Council to refinance debt, saving taxpayers $249,713. - $10.7 million in bonds for the Recreation District No. 14 in St. Tammany Parish to refinance debt and for purchasing, acquiring, constructing and improving parks, playgrounds, recreation centers and other recreational facilities. - $50 million in bonds for the St. Tammany Parish Development District to finance the cost of the acquisition of new vessels in the parish. - $15 million in bonds for the city of Hammond in Tangipahoa Parish for public works improvements including purchasing and acquiring equipment. - $8.4 million in bonds for the LHFA to finance the acquisition, construction and equipping of a 200-unit affordable housing project in Marrero. - $35 million in GO Zone bonds and $25 million in non-GO Zone bonds for the Louisiana Community Development Authority to finance the costs of a 100,000 square foot health care facility consisting of a rehabilitation hospital, ambulatory surgery center, long term acute care facility and diagnostic radiology center to be located within Kenner in Jefferson Parish. - $150 million in bonds (preliminary approval) for the LPFA for financing the acquisition of certain medical facilities located in Orleans and Jefferson Parishes and for the construction and installation of improvements and equipment. - $150 million in bonds (preliminary approval) for the Jefferson Parish Finance Authority to provide additional monies for mortgages in Jefferson Parish. - $10 million in GO Zone bonds for the LPFA for acquiring and constructing a new automobile dealership in Marrero, acquiring and constructing a new automobile showroom in Harvey, purchasing two parcels of land in Kenner and demolishing existing buildings, and acquiring and constructing an office building in Metairie. - $70 million in GO Zone bonds for the Finance Authority of St. Tammany Parish to provide below-market mortgage financing for renovations of homes and home purchases for persons of low and moderate income. - $20 million in bonds for the LPFA to finance the reconstruction, rehabilitation, restoration, construction, furnishing, improving and equipping of school buildings, office buildings, and other facilities owned and operated by the Diocese of Houma-Thibodaux.
Statewide Bond Commission approvals include $550 million in bonds for the LHFA to recapture tax-exempt bonding authority from outstanding tax-exempt bonds; to finance at least 50 percent of the development costs of projects awarded Home Funds by the agency; to finance below market mortgage loans for first time homebuyers; and to finance renovation loans for homeowners whose principal residences were damaged by the hurricanes.
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