Sunday, October 3, 2010

Will LSU ever have the money?

This article raises even more questions about financing the UMC project in Lower Mid-City.

The final four paragraphs are quite relevant:

Greene pressed Jones, who oversees the state construction budget for the Jindal administration, for a list of the projects that will be funded through state borrowing. He said he wanted to know which projects will fail to move forward because of Nucor.

“We haven’t made final decisions yet,” Jones said, adding that Greene should know something by Thursday.

Projects are sorted into a priority system in the state spending plan. The system ranks projects, with some receiving funding immediately and others having to wait. Lawmakers previously bumped Nucor down in priority to ensure that other projects were safely within the $320 million limit available for financing through state borrowing.

Now other projects would have to be bumped to make sure the state does not exceed the $320 million ceiling.

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