LT. GOV. LANDRIEU PUSHES BOND COMMISSION TO APPROVE PROJECTS FOR EDUCATION, HEALTHCARE AND HOUSING -- 01/22/2008
Office of Lieutenant GovernorFOR IMMEDIATE RELEASE
January 22, 2008
LT. GOV. LANDRIEU PUSHES BOND COMMISSION TO APPROVE PROJECTS FOR EDUCATION, HEALTHCARE AND HOUSING
Including Louisiana Delta Community College in Monroe, Morehouse General Hospital in Bastrop, Savoy Project in New Orleans
Baton Rouge, LA-- Today, Lieutenant Governor Mitch Landrieu urged the State Bond Commission to approve funding for projects benefiting healthcare, education and housing needs across the state. Among those approved were $45 million in revenue bonds for a new Louisiana Delta Community College campus in Monroe, $13 million for Morehouse General Hospital in Bastrop and $18 million for the New Savoy Place Project, important to the housing needs in New Orleans.
"Our state will reach its great potential only when we have the fundamentals in place, including a quality education system, first-rate healthcare services, and affordable housing," Lt. Governor Landrieu said.
Louisiana Delta Community College Campus - Ouachita Parish
Louisiana Community Development Authority (Delta Campus Facilities Corporation Project) - Not exceeding $45,000,000 Revenue Bonds, fixed or floating rate not exceeding 6%, not exceeding 31 years, development, acquisition, purchase, construction, improvement and equipping of a new campus for Delta Community College to be located in Monroe and all new equipment, furnishings, fixtures and facilities incidental or necessary in connection therewith.
"By investing in the Louisiana Delta Community College, we are investing in a skilled workforce that will meet the needs of Louisiana's business and industry," Landrieu said. "The idea is for our young people to have access to quality education here in Louisiana."
Morehouse General Hospital - Morehouse Parish
Morehouse Parish, Hospital Service District No. 1 - Notice of Intention to issue not exceeding $13,000,000 Revenue Bonds, Series 2008 for the purpose of (i) constructing and acquiring improvements, extensions and replacements to facilities and other works of public improvement; (ii) refinancing current indebtedness of the Issuer; and (iii) for other lawful purposes.
"The important construction projects at Morehouse General Hospital will help improve health care services in the region,"Landrieu said.
New Savoy Place Project - Orleans Parish
Industrial Development Board of the City of New Orleans, Louisiana, Inc. (New Savoy Place Phase I Project) - Not exceeding $18,600,000 Revenue Bonds, construction and installation of a 158-unit residential rental facility serving low- and moderate-income families in New Orleans.
"The Savoy project is designed to address the housing needs in the New Orleans area, post-Katrina. Affordable housing is one of the linchpins of our recovery," Landrieu said.
This is the second phase of the New Desire Hope IV Revitalization Program, which is a two phase multi-family rental housing development in the 9th Ward.