From the Lafayette Journal & Courier:
Redevelopment Commission
took the initial steps Wednesday to refinance tax-increment finance bonds
funded from the TIF district around Kalberer Road, Cumberland Avenue and
Blackbird Farms.
Currently, the bonds are
set to be paid off by 2017 and carry interest rates of 4.5 and 4.75 percent.
The new bonds, if approved by the Redevelopment Authority, would have an
interest rate of 2.5 percent and would still be paid off by 2017. By
refinancing, the city can save $145,000 a year in debt services.
The
Redevelopment Commission will take formal action on the refinancing next month.
