Lafourche Parish shows signs of slow return to normalcy
September 16, 2008Southdown Plantation House/The Terrebonne Museum (Houma)
September 18, 2008Houma builder Lea Rutter’s Rutter Investment Group was approved for $4 million in bonds by the Louisiana Public Facilities Authority on Wednesday.
Rutter applied for the bond issue to expand and make improvements to his 14,800-foot Walgreen’s Drug Store development on St. Charles Street in Houma.
“I’ve been trying for this since Blanco was governor,” Rutter said. “I finally got a clear path.”
The authority sponsored Rutter’s request before the State Bond Commission. Rutter had asked for $6 million in low-interest Gulf Opportunity Zone bond funding.
In May, the Terrebonne Economic Development Authority wrote a letter supporting Rutter’s application. Rutter needed a letter of support from another public body other than the Louisiana Public Facilities Authority.
In August, the State Bond Commission had preliminarily approved $6 million in GO Zone bond funding for Rutter’s Walgreen’s development.
The Louisiana Public Facilities Authority issues both tax-exempt and taxable bonds for industrial and commercial projects in the state.
