Education sits at the foundation of improving economic and community development. Ensuring that students and educators have access to high-quality, up-to-date facilities is central to improving education opportunities across Louisiana.
The Louisiana Public Facilities Authority (LPFA), a conduit issuer of tax-exempt and taxable bonds, has played an integral role in supporting education efforts since it was founded in 1974.
AT A GLANCE
Top executives: Guy Campbell III, Chairman; James W. Parks II, President and CEO
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LPFA’s determined commitment to education featured prominently in 2021. LPFA issued more than $498.3 million in bonds—78 percent of these issues, totaling $430 million, related to education and supported economic development. Projects included several charter schools, University Medical School and Loyola University.
Many of LPFA’s past bond issuances have focused on higher education projects, but 2021 saw increased emphasis on K-12.
“The LPFA has a long history of supporting education in Louisiana,” says Martin Walke, CEcD, LPFA’s vice president of economic and program development. “While that history has primarily focused on higher education in the past, we are excited about the opportunities to help elementary and middle school students in the future.”
LPFA also continues to support college-bound students through its education division, the Louisiana Education Loan Authority (Lela). Lela provides students and their families with valuable college planning and financial counseling. This includes free, one-on-one college planning and financial counseling sessions, low-cost supplemental loans for college expenses, and assistance in completing the Free Application for Federal Student Aid (FASFA), which high-school students must submit before graduating. In 2021, Lela assisted more than 40,000 students. More than 400,000 students have received assistance since Lela’s creation in 1984.
By providing the means for qualifying projects and entities to receive tax-exempt financing and achieve interest cost-savings, the LPFA supports economic and community development across the state, issuing bonds totaling $28.3 billion over its 47-year history. As a self-supporting Authority that operates solely on self-generated revenues, the LPFA has never requested nor received any funds from the state of Louisiana for its operations. The LPFA’s operating expenses are covered through revenue generated by fees on bonds it has issued.
Through its determined support of education, the LPFA continues to make an indelible impact on Louisiana students, their families and, ultimately, the state’s community and economic viability.
Indeed, Walke notes, “At LPFA, we are trying to provide the best environment for learning for Louisiana’s youth to prepare them for the jobs of the future.”
