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The LCDA was created originally by Act 813 of 1991 (R.S. 33:4548.1, et seq.); was patterned after a similar authority in Georgia; and was enacted to allow participating political subdivisions to finance environmental projects (i.e. wastewater, drinking water, and solid waste facilities).
Due to tremendous need for financial assistance, coupled with decreases in federal and state funds available for financing local government projects, the Louisiana Municipal Association Executive Board endorsed amendments to the LCDA in 1997. These amendments, contained in Act 1151 of 1997, expanded the potential membership to include school boards and special districts in addition to municipalities and parishes; included economic development, industrial development, and public infrastructure projects within the list of authorized projects; and authorized the creation of an executive committee to operationalize the LCDA.
The LCDA has issued over a billion dollars in financings for local governments since its inception in late 1997. We have helped finance everything from the renovation of the City Hall and Independence Stadium in Shreveport to a new water system for Grand Isle.
While we are one of the largest issuers of tax-exempt financings in the state, and can finance everything from non-profit 501-c-3 organizations to industrial development projects and from governmental projects to financing programs, issuing debt is not our primary objective.
Because the LCDA Board of Directors is made up of local governmental representatives, our most important role is just to act as a sounding board for local governments exploring their financing options. In many instances, the LCDA may not be the best issuer for your financing needs, but we are always able to help you evaluate ALL your financing alternatives at literally no cost to you (i.e. we don't charge 'out-of-pocket" expenses).