At the Caddo Commission work session/administrative conference on Monday, the Commission was advised it will receive $50,000 from the Capital Area Finance Authority (CAFA).
These funds are a 50-50 split with CAFA from several home leading programs for low to moderate income borrowers of the parish from loans provided by CAFA.
The Commission approved the Parish entering into a Cooperative Endeavor Agreement with CAFA in Resolution 3 of 2019.
CAFA is a public trust established in East Baton Rouge Parish to promote safe, sanitary single family housing for low and moderate income families.
The Commission's approval was needed for operation of this program in Caddo Parish.
The $50,000 was paid of the net fees from the administration fees paid by borrowers for loans made in Caddo Parish. In other words, borrowers paid more administrative fees to generate these funds for the parish.
The question to be asked is should these loans to moderate income borrowers subsidize the Parish which has a $80 million budget?
Another question that could be asked if the total administrative fees charged by CAFA are "fair and reasonable."
And the last question is how will the funds be allocated?
John came to Shreveport in January of 1977 when he was transferred to Barksdale AFB.
He’s been active in Shreveport politics since deciding to make Shreveport his home.
John practiced law for 40 years and he now monitors local politics. He regularly attends Shreveport City Council and Caddo Parish Commission meetings.
John is published weekly in The Inquisitor, bi-monthly in The Forum News, and frequently in the Shreveport Times.
He enjoys addressing civic groups on local government issues and elections.