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Capital Area Finance Authority asks Tangipahoa Parish to approve $100 million state bond for homebuyer assistance
Summary
Bridgette Homer of the Capital Area Finance Authority told the Tangipahoa Parish Council on May 12 that CAFA seeks parish approval of a $100 million state bond to fund closing-cost assistance for veterans and first-time homebuyers; council did not take a vote on the request at the meeting.
Bridgette Homer, representing the Capital Area Finance Authority, told the Tangipahoa Parish Council on May 12 that CAFA is seeking parish approval of a $100 million state bond to fund closing-cost assistance for veterans and first-time homebuyers.
Homer said CAFA issued a $40 million bond in 2023 that has been depleted and that the new bond would replenish the program. "These bonds are of no risk to the parish, but they do require parish approval in the form of a Resolution," Homer said.
CAFA described the program as providing closing-cost assistance to veterans and first-time buyers; Homer told the council the mechanism is a state-issued bond that requires local sign-off but does not obligate parish funds. The transcript records the presentation and CAFA's request for a resolution but does not show the council adopting any related resolution at this meeting.
If the council chooses to approve the request, the body would adopt a resolution at a future meeting to evidence local approval under the federal tax-code process CAFA cited. No timeline or motion to schedule such a resolution was recorded during the May 12 session.
