Baton Rouge, LA — The Louisiana State Bond Commission, led by State Treasurer John Fleming, M.D., has approved funding for a series of major projects across the state, focusing on affordable housing, infrastructure improvements, and hurricane recovery. The funding allocations reflect a commitment to fiscal efficiency and taxpayer protection, according to Treasurer Fleming.
“Our department is committed to funding major projects throughout the state in an efficient manner that emphasizes cost containment and safeguards taxpayer funds,” said Fleming.
Affordable Housing Developments
Among the approved projects are five affordable housing initiatives spearheaded by the Louisiana Housing Corporation. These developments aim to address the growing need for accessible housing:
- Canal Crossing Senior Apartments Project (New Orleans): $11 million in Multifamily Housing Revenue Bonds for a 49-unit senior housing development.
- Lafitte Phase VII Project (New Orleans): $14.34 million in Multifamily Housing Revenue Bonds for a 51-unit multifamily development.
- Natchitoches Thomas Apartments Project (Natchitoches): $23 million in Revenue Bonds for the rehabilitation of a 120-unit housing complex.
- Sabine Trace Project (Merryville, Beauregard Parish): $17 million in Multifamily Housing Revenue Bonds for a 90-unit housing development.
- The Reserve at Lapalco Place Project (Marrero): $24 million in Multifamily Housing Revenue Bonds for a 144-unit development.
“These housing projects are essential for addressing the critical need for affordable living options across Louisiana, enhancing the quality of life for residents and boosting local economies,” Fleming noted.
Infrastructure and Community Development Projects
In addition to affordable housing, the Bond Commission approved several key infrastructure and community projects:
- Jeanerette Sewer System Improvement (Iberia Parish): $4.4 million in Taxable Sewer Revenue Bonds for upgrading and extending sewer systems.
- Delcambre Sewer System Enhancements (Iberia and Vermilion Parishes): $3 million in Taxable Sewer Revenue Bonds for system improvements.
- Christwood Retirement Community Expansion (Covington): $40 million in Revenue and Refunding Bonds for improvements and debt refinancing.
- Terrebonne Levee and Conservation District Hurricane Recovery: $33 million in Hurricane Recovery Revenue Bonds for storm-related recovery and mitigation efforts.
Statewide Fiscal Impact
In fiscal year 2025, the State Bond Commission issued $667.17 million in various bonds, generating $89 million in savings through 2044. To date, the commission has approved 87 debt applications totaling $4.29 billion, supporting critical local government initiatives.
Treasurer Fleming credited these accomplishments to the commission’s dedicated team, stating, “Our success is the result of tireless work by professionals committed to advancing Louisiana’s growth and stability.”
The State Bond Commission serves as a vital entity for reviewing and approving applications for public debt, ensuring compliance with constitutional and statutory requirements, and evaluating the feasibility of repayment.
For more information on the Louisiana State Bond Commission and its projects, visit www.treasury.la.gov.