The purchase of the wooded expanse of land, in south central Jackson Parish, on Hwy. 4, about 3 miles from Jonesboro, was included in the Jackson Parish Recreation Department Master Plan, which charts the direction of the program through 2017, according to Jackson Parish Recreation Department Director Tommy Smith.
Jackson Parish purchased the property at a total cost of $477,000, and with the assistance of a zero-interest loan through the LPFA. The project is largely funded through property taxes and a matching grant from the state.
Smith said the immediate plan is to start construction of the open-air pavilion that could attract rodeos, 4-H livestock shows and other events. The Department is also considering a gymnasium, and a playground and RV park are in development.
"We're aiming high," Smith said of the master plan and the construction of a pavilion. "There's nothing like this in the Parish. Our goal is to offer activities that provide recreation and entertainment. We know we have a lot of young people in this area raising cattle and traveling to compete in 4-H livestock shows. We want to offer them a facility closer to home."
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Find additional examples of projects financed, in part, through the LPFA's Bond Bank Program below.
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Jackson Parish Recreation Department borrowed a total of $400,000 to finance the project, including a $60,000 zero-interest loan through the LPFA Zero Interest Local Government Bond Bank Program, which will save the Department$1,077 in future interest payments.
"The purpose of this project is to expand health and recreational opportunities in Jackson Parish, but the project is creating economic opportunities as well when visitors travel to the Parish to enjoy activities at the sports complex. This is a perfect use for the LPFA's zero-interest Bond Bank Program, and I'm pleased that Jackson Parish officials sought our assistance," said Martin Walke, LPFA Vice President for Economic Development.
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LPFA Zero Interest Local Government Bond Bank Program is designed to help address the financing needs of local governmental entities and to reduce their overall borrowing costs. Recent projects funded, in part, by the LPFA's Bond Bank Program also include:
Town of Grand Coteau borrowed $150,000 for the purpose of constructing and acquiring improvements to the Town's waterworks system. The LPFA funded $22,000 of the total borrowing at zero percent interest, saving the Town $1,607 in future interest payments.
Town of Abita Springs borrowed $500,000 for the purpose of constructing, paving and resurfacing public streets in the Town. The LPFA funded $75,000 of the total borrowing at zero percent interest, saving the Town $3,774 in interest payments.
