Council Preview: City’s $49.3M debt issue & $1.7M for debris center

Looking under LCG's hood

Here is a selection of items on the agendas for this week’s meetings of the City and Parish councils. To see the full agendas, check out the links below:

Lafayette 101
Municipal bonds

Government bodies borrow money by issuing debt in the form of bonds, which are typically repaid over several years or even decades. Bonds are usually backed by specific sources of revenue, like sales taxes or utility collections, and they allow government bodies to undertake major projects that they otherwise couldn’t pay for up front. LCG’s existing bonds are available on its website, and others can be found online.

Parish Council

Final Adoption

No significant items.

Introduction

No items.

City Council

Final Adoption

No significant items.

Introduction

Bond issue. Lafayette’s City Council will give initial consideration to a pair of bond issues (A & B) totaling $49.3 million Tuesday, which would be the city’s first bonds issued since 2020, when former Mayor-President Josh Guillory’s administration borrowed $50 million and refinanced another $16 million in existing debt. Bonded debt is funded by city sales tax collections, which have grown substantially since the Covid-19 pandemic began. As of 2022, the city’s outstanding debt totaled roughly $220 million to be paid over many years.

Joint Items

Final Adoption

No items.

Introduction

Environmental center. Mayor-President Monique Blanco Boulet’s administration is asking the City and Parish councils to approve an additional $1.7 million for Lafayette Consolidated Government’s new Environmental Quality Convenience Center (debris drop off facility) after bids for the Dugas Road project came back higher than expected last year. The move would raise the project’s budget from $1.2 million to $2.9 million, all of which would come from LCG’s environmental quality fund, which relies on revenue from garbage collection fees in the city and parish.

Property

AddressApprovalAction
200 Byron St.City CouncilCondemnation [Final]
200 Peter St.City CouncilCondemnation [Final]
106 Texas St.City CouncilCondemnation [Final]
226 Anne St.City CouncilCondemnation [Final]
408 Saint John St.City CouncilCondemnation [Final]
500 Block Ridge RoadCity CouncilRezoning from Residential Single-
Family (RS-1) to Commercial Mixed (CM-1) [Final]
522 Jefferson St.City CouncilConditional Use Permit for Downtown bar/lounge [Final]
537 Jefferson St.City CouncilConditional Use Permit for Downtown bar/lounge [Intro]
Planned council actions related to property, such as rezonings, annexations and disposition of adjudicated properties

Vacancies

BoardApprovalQualifications
Lafayette Parish Waterworks District North BoardParish CouncilApplicants must reside within district
Lafayette Parish Waterworks District South BoardParish CouncilApplicants must reside within district
Lafayette Public Trust Financing Authority BoardCity CouncilNone Listed
Transportation Policy CommitteeCity CouncilNone Listed
Resumes should be emailed to [email protected] no later than noon, Tuesday, April 16, 2024

Appointments

BoardApprovalApplicants
Bayou Vermilion DistrictLocal Area MayorsKyle Ferrell
Lafayette Economic Development AuthorityLocal Area MayorsPamela Granger