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LPSS Announces Multi-Property Transaction for New Central Office

To meet the growing needs of the Lafayette Parish School System (LPSS), the Lafayette Regional Airport (LFT), and Lafayette Consolidated Government (LCG), recent conditions in the Lafayette real estate market present an opportunity for these entities to purchase property for future growth. The Lafayette Parish School Board has authorized the purchase and renovation of an office facility located at 202 Rue Iberville to be used for consolidation of the central office into a newer and more efficient facility.

LPSS Director of Finance Matt Dugas states, “LPSS is taking advantage of favorable market conditions to address a long-term need in a financially prudent way. Our current central office building was built in 1958 and is woefully inadequate for the needs of our modern and thriving school system.”

As authorized by the Lafayette Parish School Board, LPSS will sell the land and physical structures located at 326 Gauthier Road, currently the Vermilion Conference Center, to LCG. The purchase of this property will enable LCG the needed expansion of a LUS facility due to the upcoming widening for I-49.

LPSS will also sell the current location for its central office at 113 Chaplin Drive, a property comprising more than 10 acres, to the Lafayette Regional Airport which will enable further expansion for airport operations. LPSS will lease the current central office location from the airport until its new facility is ready.

The Rue Iberville property to be purchased by LPSS through this transaction includes a four-story, 77,626 square-foot office building formerly known as “Energy Plaza.” Originally built in 1982, the building was updated and renovated in 2015 and offers ample parking for employees, visitors, and the public. Additional alterations and renovations will be completed on the building to prepare it to serve as LPSS’s new central office.

The multi-property transaction will not result in any net effect on the district’s annual budget or any new debt obligations. It benefits all parties involved and provides a solution to the district’s ongoing need for an updated and more modern office facility. In addition, the new location will allow LPSS to consolidate its operations considerably, increasing efficiency and enabling it to better serve the community.

“The impending purchase of this property allows the Lafayette Airport Commission additional options in close proximity to the new terminal to accommodate future growth,” says Chairman Paul Segura. “For some time, the airport has been somewhat ‘land-locked’ with no available acres for future development. For that reason, and looking forward to additional airport needs in the future, we feel this is a purchase that makes sense for the Lafayette Regional Airport and the Commission is pleased to be a part of this transaction.”

“This agreement is a win for LCG, LPSS and the Lafayette Regional Airport. This property will allow us to move forward with a much needed expansion of the East Wastewater Treatment Facility, further expanding our capacity to serve the citizens of Lafayette.” Lafayette Mayor-President Josh Guillory.

Superintendent Irma Trosclair concurs, “This mutually beneficial land transaction is made possible by the close cooperation of three Lafayette Parish public entities, working together to identify solutions for each of them that also makes sound financial sense. Thanks to this arrangement, LCG, LPSS and LFT will all be better positioned for future growth and expansion while maximizing available resources.”