LCDA Issues $232,830,000 in Bonds to Assist Municipalities and 501c3 Organizations in 2019
Executive Director, Ty E. Carlos, sent a report to members of the Executive Committee and Board of Directors of the Louisiana Local Government Environmental Facilities and Community Development Authority (LCDA) on February 3, 2020 that included detailed information on the 15 bond issues it closed on in 2019. Total PAR amount of the bonds issued was $232,830,000.
The projects ranged in size from $46,985,000 for The Glen Retirement System, a Senior and Assisted Living 501c3 entity located in Shreveport, to a $2,600,000 issuance for the Ragin Cajun Facilities, Inc., a 501c3 located in Lafayette, for improvements to the Cajundome.
Included in the 15 issues were 7 additional GOMESA transactions for Vermilion, St. Mary, St. Martin, Jefferson, St. James, St. John the Baptist and Lafourche Parishes. The LCDA was the first entity in the US to issue these unique municipal bonds in the market in 2018. Since mid-2018, the Authority has issued $131,955,000 in bonds for 11 southern parishes to assist them in protecting their parish and its citizens.