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Finance committee approves $247,161,161 amendment and Cleco line-extension agreement for Innovation Boulevard lighting
Summary
The parish finance committee unanimously approved a resolution authorizing the parish president to execute a line-extension agreement with Cleco Power LLC and to amend the Economic Development District No. 1 fund by $247,161,161 to fund the Innovation Boulevard lighting project, to be paid from prior-year fund balance.
The Iberia Parish finance committee on June 10 unanimously approved a resolution authorizing the parish president to execute a line-extension agreement with Cleco Power LLC and to amend the 2026 Economic Development District No. 1 fund budget by $247,161,161 for the Innovation Boulevard lighting project.
The item (described in committee as a resolution to execute the line-extension agreement and to amend the fund budget by $247,161,161) was moved and seconded during the finance meeting and the chair called for a vote; the clerk recorded that the motion passed unanimously. Committee members also passed several related budget amendments to account for higher-than-budgeted sales tax collections and increased interest earnings, with amounts noted in committee for other amendments including $3,407,000 and additional carryover/project adjustments.
Committee members stated no further comments after the motions and recorded unanimous passage. The approved line-extension agreement and budget amendment direct funds from prior-year fund balance to cover the lighting and related utility-billing work on Innovation Boulevard, according to the resolution text read in committee.
The resolution will be transmitted to the full council and to parish administration to implement the agreement and update the Economic Development District No. 1 fund records.
