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CAFA asks Bossier Parish to back new bond to continue down-payment assistance
Summary
Capital Area Finance Authority officials told jurors 35 down-payment and closing-cost loans have helped first-time buyers in Bossier Parish since January 2024 and requested the parish support a new tax-exempt bond application to allow the program to continue once state bond caps are exhausted.
Kristin Delahoussaye, Business Development Manager for the Capital Area Finance Authority, told the Bossier Parish Police Jury that CAFA has run down-payment assistance in the parish for about four years and that “35 down-payment and closing costs loans have been issued in Bossier Parish since January of 2024.” She said a first-time homebuyer restricted tax-exempt bond used previously relied on a $100,000,000 state funding cap that will soon be exhausted and that CAFA intends to apply for a new bond to continue operations statewide.
Delahoussaye described program mechanics and asked the parish to support a future bond application and a TEFRA hearing resolution: she said the program sets a below-market rate through the bond, noted the current interest rate set in January 2025 is 5.88% APR, and described a four-percent assistance amount with a three-year lockout and loan forgiveness after five years if homeowners do not sell or refinance. The jurors did not vote on the request at the meeting; Delahoussaye said she will provide additional lender details and a formal resolution request when the application is submitted.
