CPPJ to help with I-210 Cove Lane project funding - KPLC 7 News, Lake Charles, Louisiana

CPPJ to help with I-210 Cove Lane project funding

Posted: Updated:
LAKE CHARLES, LA (KPLC) -

Calcasieu Parish, along with other local agencies, are contributing to the funds for the I-210 Cove Lane project.     

Construction is in the early stages for the new casino and the plans for I-210 Cove Lane and Nelson Road construction are still underway.

The Calcasieu Parish Police Jury entered into a local contribution agreement to help fund the close to $80 million roadway construction project.

"This is a very creative and taxpayer friendly way to achieve this," said Parish Administrator Bryan Beam.

Beam said the panel, with the Louisiana Department of Transportation and Development (DOTD), the City of Lake Charles, the Port of Lake Charles and other local agencies, are contributing $4 million per year for five years for the Cove Lane project. 

Only about $1.2 million of that $4 million will be from the CPPJ each year.

"It won't involve any existing funds being taken from public agencies. The funding would be taken from future gaming revenues only from those that come from the Ameristar project," Beam said.

That's a beneficial aspect of the agreement, according to Beam, because it's not an immediate transaction.

"It's only once the casino is actually paying their percentage of gaming taxes to local entities that we would have to, in return, pay for the project costs," Beam said.

He said that will not have a negative impact on the parish's ability to budget for other things.

Beam said the next step is to wait for the state to get the local contributions finalized. The goal is to get the project done before the opening of the new casino. 

Copyright 2013 KPLC. All rights reserved.

Powered by WorldNow