The troubled Acadiana Outreach Center hopes the Lafayette Public Trust Financing Authority will keep its Joie de Vivre project alive.
Still reeling from gross mismanagement at its Abbeville treatment facility and loss of outside funding sources, Acadiana Outreach Center is looking for a lifeline for Joie de Vivre, a $16.5 million mixed-use, affordable housing development near downtown.
“Because of the dire straits our prior management left us in, we’ve reached the end of the road,” says AOC board member Bo Billeaud. At a 1 p.m. meeting today, Billeaud will make a brief presentation to the board of the Lafayette Public Trust Financing Authority, requesting that it acquire AOC's interest and other assets in the vicinity of the project. The meeting will be held at Lafayette Consolidated Government's building at 705 W. University Ave. on the second floor.
Joie de Vivre is being partially funded by federal low-income housing tax credits that will be sold to private investors. Those tax credit investors, who would own 99.99 percent interest in the project with AOC owning .01 percent, have requested additional backers or a new sponsor because of AOC’s problems. In the absence of that, it will require AOC to post a half million dollar performance bond, Billeaud says, which is not an option.
LPTFA already has an interest in Joie de Vivre, as it loaned the project $1 million. One potential attraction for LPTFA, a public trust organized under the laws of the state and established for the benefit of the city of Lafayette, is a $1.9 million development fee, which it would share with the project consultant, presumably its former board member Greg Gachassin.
LPTFA is nearing completion on a similar project it spearheaded, the $10 million Cypress Trails apartment complex in north Lafayette.
Joie de Vivre, located in the Mills Addition near downtown, was supposed to break ground in September and be finished next year. Though most residents in the area have spoken out publicly in favor of the project, it has met significant resistance from some neighbors.
Without LPTFA's help, the project may be dead, Billeaud says. "Unless we have a guardian angel come in."
Despite sweeping changes enacted by Gov. Bobby Jindal's administration, the health insurance program for state workers and public school employees will have to use $88 million from its reserve fund to cover its costs this year.
The LPSB races are sure to get heated between now and Nov. 4, and with only 9 available seats, this year's field of 20 candidates will surely be wanting to set themselves apart from the crowd early; they'll get their chance next week, starting Tuesday with the kick-off of a three-day series of candidate forums.
Lawmakers say they've received complaints that waits have spiked, with people being forced to wait in line for more than an hour — and sometimes three hours — to handle routine tasks.
The campaign announced that Rep. Stuart Bishop of District 43 and Nancy Landry, District 31, have thrown their support behind the Naval Academy graduate and entrepreneur in his bid to unseat current Hunter Beasley in District 8.
A Lafayette man with an alleged taste for child porn was busted Thursday evening during a cyber crime sting launched by the Attorney General’s Office.
U.S. Rep. Vance McAllister says his chief of staff is on temporary leave after being booked with drunken driving.
It was a rare moment in Congress this week as Republicans briefly put aside partisanship in support of President Barack Obama's request to train and arm Syrian rebels, and while a number of Democrats opposed the measure, Louisiana's Democratic Sen. Mary Landrieu found herself on the same side of the issue as her Republican challenger Rep. Bill Cassidy.
Home Depot breach bigger than Target; Alibaba IPO could be big; Rivers' last project and more national and international news for Friday, September 19, 2014.
Friday's Blogs from the Bog!
City-Parish President Joey Durel is asking the council to sign off on a resolution approving a pair of deals that would lead to razing the seedy Lesspay Motel at Four Corners to build a new police substation as well as transforming nearly a block Downtown where the old federal courthouse building now molders into a mixed-use development.
In 2013, the IRS — already the least popular governmental agency in the country — became the target of intense investigations after it was revealed that they had specifically and improperly scrutinized applications for tax-exempt status from organizations associated with the nascent Tea Party movement.
Improving the running game was "a point of emphasis" during the offseason and the results have manifested themselves in the form of substantially greater production.
Louisiana's health department said Wednesday that its evaluation of the state's Medicaid privatization was on target, despite criticism from the legislative auditor that it lacked key data and contained inconsistencies.
The feds converge on your office, seizing records on several employees as part of a pay-for-plea investigation. WWYD? If you’re Mike Harson, you give yourself a $12k raise.
It’s football season and after back-to-back winless weekends for the Saints and the Cajuns many citizens are finding it difficult to be civil much less happy. Well, chew on this.
Considering his repeated stays in the local penal system, David Narcisse Jr. should have known that having a semiautomatic shotgun, even one given to him by a friend, wasn’t the brightest of ideas.
A state district judge on Tuesday threw out a last-minute retirement hike lawmakers gave to the state police superintendent, ending a political firestorm over a pension boost passed without public scrutiny on the last day of the legislative session.
The House has passed a bill to increase oversight of veterans' hospitals under construction, following a report that some medical centers take three years longer to complete than estimated and cost an extra $366 million per project.
An obvious follow-up question for any Republican politician who accuses Democrats of being science deniers is one about science, to which Jindal bobbed and weaved like a welterweight champ.
The Lafayette City-Parish Council is expected to decide tonight (Tuesday) whether to go along with a proposal City-Parish President Joey Durel made in February’s State of the Parish Address and consolidate taxes for mosquito control and the parish health units into a broader tax program that would also cover animal control.
U.S. District Judge Richard Haik has dismissed Greg Davis’ lawsuit against the LPSB, yet in his ruling, the federal judge doesn’t bite his tongue in pointing out the "threat" being posed by certain board members.
Of all the political offices being contested throughout Lafayette Parish, the race for Broussard’s top police post has literally become one of the most heated.
A state district judge is deciding whether to issue an injunction against the enforcement of a last-minute retirement hike that lawmakers gave to the state police superintendent.
A new website is up for Louisiana's state government employees and retirees to choose their health insurance plans for next year, a choice they must make by October.
That fact that New Orleans led both games in the final 10 seconds of regulation, and lost each by a field goal or less, is of little solace.