LT. GOVERNOR LANDRIEU PUSHES BOND COMMISSION TO APPROVE ECONOMIC DEVELOPMENT PROJECTS -- 11/15/2007
Office of Lieutenant GovernorFOR IMMEDIATE RELEASE
November 15, 2007
LT. GOVERNOR LANDRIEU PUSHES BOND COMMISSION TO APPROVE ECONOMIC DEVELOPMENT PROJECTS
Including Major Jazz Exhibition, Federal City, Sugarhouse House Road
Baton Rouge, LA--Today the State Bond Commission approved funding for various projects benefiting recovery and economic improvement across the state. Among those approved was a $4 million non-cash line of credit for the U.S. Mint Museum Exhibition, an item sponsored by Lt. Governor Mitch Landrieu. This will fund a collaborative project between the Office of the Lieutenant Governor/Department of Culture, Recreation and Tourism and the US Department of the Interior/National Park Service for the creation of a major jazz exhibition.
Lt. Gov. Mitch Landrieu, who pitched the idea to the Department of the Interior, said "A world-class jazz exhibition will be a great cultural asset for our community, helping to draw tourists and telling the story of Louisiana's rich history as the birthplace of jazz."
Several Gulf Opportunity Zone Bonds were approved for construction and improvement projects across the state, including:
Coca Cola Bottling Company-construction and equipment of a bottling/manufacturing facility in East Baton Rouge Parish, $120 million
MSP Project -rehabilitation or construction of three mixed-use developments between Tchoupitoulas Street and the river, $180 million
VIH Helicopters USA-installation of a new search and rescue deep water base and passenger transportation facility in Galliano, Lafourche Parish, $10 million
Marketfare Canal-land acquisition and construction of two full-service supermarkets at 2222 St. Claude and 4001 Canal, $14 million
IDB Canal LLC and Judge Perez LLC Project--demolition and rebuilding of a 20,000-square-foot building for retail, parking and residential use, $90 million
Waldorf-Astoria Hotel-rehabilitation of the damaged Fairmont Hotel on Baronne St in New Orleans, $95 million
Jackson Barracks-rehabilitation and construction in Historic District Phase II, $2.2 million
Federal City-planning, land acquisition and construction in New Orleans, $15 million
Sugarhouse Road-planning and construction of Phase 1 and Phase II infrastructure project linking I-49 and LA Highway 1, Rapides Parish, $5 million
"On the Bond Commission I advocate for projects that are fiscally sound and that will generate jobs and income for the people of this state," said Landrieu. "Federal City is a shining example of the success we can realize when we work together regionally at all levels of government. Sugarhouse is a critical infrastructure project that will link key thoroughfares in Central Louisiana."