Parking structure approved for Tech
The UL System Board of Supervisors approved plans to build a new parking facility (mock shown above) on the campus of Louisiana Tech at its Thursday meeting. Artist rendering from UL Board of Supervisors agenda items
Louisiana Tech University students, faculty, and staff can look forward to a new multi-level parking structure in the future.
The University of Louisiana System Board of Supervisors approved plans for an on-campus parking facility at its Thursday meeting in New Orleans, setting in motion a large-scale plan to add new infrastructure to the community.
According to Dickie Crawford, vice president for student advancement at Louisiana Tech, the new project will add 300 parking spaces to the exisiting parking lot located on Mississippi Ave. next to the pedestrian bridge when completed.
Innovative Student Facilities, a Louisiana non-profit organization, plans to finance the development, design, renovation, construction, and equipping of the new parking facility.
The university plans to use proceeds of a loan from the Louisiana Local Government Environmental Facilities and Community Development Authority (the “Louisiana Community Development Authority”) to finance the project, represented through one or more series of revenue bonds.
The total amount of the bonds is expected to be approximately $10 million which will be enough to pay project costs and the costs of issuance of the bonds.
