Posted: Jun 17, 2013 8:45 AM by AP/CS
Updated: Jun 17, 2013 8:46 AM
LAFAYETTE, LA. (AP) - The Lafayette City-Parish Council is expected to consider leasing the former University of Louisiana at Lafayette Horse Farm to a nonprofit foundation that would be responsible for fundraising, planning and developing the property into a public park.
If the council gives its approval Tuesday, City-Parish President Joey Durel would be authorized to sign a lease and cooperative endeavor agreement with Lafayette Central Park Inc., an independent nonprofit entity created by the Community Foundation of Acadiana solely for the Horse Farm project.
The Advertiser reports the city advertised for bids for the project. Lafayette Central Park Inc. submitted the only proposal.
Under the agreement to be considered, Lafayette Central Park Inc. would be responsible for at least $6.8 million in improvements to the Horse Farm property.