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Bond commission approves 16 affordable housing bond projects amid renewed scrutiny of costs and QAP revisions
Summary
The commission approved 16 multifamily housing revenue bond items (52–67) and heard debate about rising per-square-foot costs and the need to strengthen the Qualified Allocation Plan (QAP). Staff and Louisiana Housing Corporation officials said cost-containment measures and QAP updates are underway.
The State Bond Commission approved a slate of multifamily housing revenue bond requests (items 52–67) at its Dec. 12 meeting after staff presented technical reviews and cost analyses for each project.
Staff said the projects include a mix of rehabilitation and new construction across the state — from conversion of historic office buildings into affordable units in Baton Rouge to senior-housing redevelopments and multi-story mixed-income developments in New Orleans. For each application, staff said the projects meet technical requirements and provided an accompanying cost-analysis packet that separates hard construction costs from soft costs and other development expenses.
Why it matters
Commissioners said they are increasingly focused on cost containment for projects financed with…
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