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The Louisiana Public Facilities Authority (LPFA) is celebrating its 50th anniversary, marking five decades of supporting economic development, healthcare and education in Louisiana through bond financing and job creation initiatives.
AT A GLANCE
Top executives: Tricia A. Dubroc, President & CEO; Martin Walke, CLEcD, Vice President; Joni M. Leggio, Vice President
Phone: 225.923.0020 / 800.228.4755
Address: 2237 S. Acadian Thruway, Suite 650, Baton Rouge, LA 70808
In August 2024, the LPFA completed the largest bond issuance in its history, providing $1.33 billion in financing for the Interstate 10 Calcasieu River Bridge Replacement project. Coinciding with the LPFA’s milestone anniversary, the project highlights the Authority’s fundamental role in advancing vital economic and community development across the state.
As a statewide public trust, the LPFA issued tax-exempt private activity bonds for the project to finance an innovative public-private partnership between the Louisiana Department of Transportation and Development, international investors with Calcasieu Bridge Partners, and the State of Louisiana.
The new eight-lane bridge will replace the existing, narrow 70-year-old structure, which pre-dates the interstate system and lacks shoulders and lighting. By facilitating safer, more reliable travel across a key route in southwest Louisiana, the bridge will contribute to the state’s economic resiliency.
For its significant, transformational approach, the LPFA received the “Deal of the Year” award in the Public-Private Partnership Financing category from The Bond Buyer, the municipal finance industry’s leading national publication.
The award marks the first time the LPFA has been recognized in this category and the second time it has been honored by the publication.
Further, the project’s novel financing method provides a successful model for leveraging public-private partnerships to address future large-scale infrastructure needs throughout the state and nation.
Established in 1974 as a statewide conduit issuer of tax-exempt and taxable bonds, the LPFA has financed 878 projects totaling more than $31.4 billion over the past five decades. These projects have led, on average, to an additional 8,837 jobs per year.
Since its creation, the Authority has provided lower-rate Bond Bank program loans totaling more than $35.6 million, leveraging LPFA funds, which have generated $6.6 million in savings for governmental entities across the state. Through its Lower-Rate Rural Development Loan program, the LPFA has financed more than $44 million—generating an additional $1.1 million in savings.
By enabling qualifying projects and entities to access tax-exempt financing and reduce interest costs, the LPFA has been instrumental in stimulating economic growth and prosperity in communities across Louisiana. Driving these efforts to provide cost-saving financing solutions is the LPFA’s mission to make the state a better place to live, work and raise families.
The LPFA has financed 878 projects totaling more than $31.4 billion in Louisiana through 2024. Across its 50 years, LPFA projects have led, on average, to an additional 8,837 jobs per year.
Through its education division, the Louisiana Education Loan Authority (Lela), the LPFA supports college-bound students and families by offering responsible borrowing options through its LelaCHOICE supplemental loan programs and refinancing through its LelaRefiHELP program. Lela also offers free remote assistance to complete the Free Application for Federal Student Aid (FAFSA), the federal-aid form that high-school students must submit before graduating. In 2024, Lela assisted nearly 15,000 students. More than 460,000 students have received financing or outreach assistance since Lela’s inception in 1984.
As a self-supporting authority that operates solely on self-generated revenue, the LPFA has never requested or received any tax or other appropriation from the State of Louisiana for its operations. Its operating expenses are covered through revenue generated by its bond issuances and programs.
“The LPFA is very proud to reach its 50th anniversary. This milestone was made possible through the partnership of our non-profits, businesses, leaders of the State of Louisiana, and our Board of Trustees,” said LPFA President and CEO Tricia A. Dubroc. “We are exceptionally honored to serve as issuer for the I -10 Calcasieu Bridge Project. While this transaction was unique in its structure, it opens the possibility of similar opportunities for financing Louisiana’s infrastructure in years to come. We look forward to the next 50 years and beyond fulfilling our mission to improve the quality of life for Louisiana.”
