Lourdes Property update

[LaCajunsFan]

In case you guys didn't see it, there appears to FINALY be progress for us to buy the property where the former Lourdes hospital was located. Good news indeedif it works out.

http://www.theadvertiser.com/story/n.hase/30434471/

[Boomer]

In case you guys didn't see it, there appears to FINALY be progress for us to buy the property where the former Lourdes hospital was located. Good news indeedif it works out.

http://www.theadvertiser.com/story/n.hase/30434471/

----I have NO IDEA what is going on with the project but I think that the Diocese of Lafayette owns the property---I think the fact that the bill was brought up and passed shows the intent of the university to want and buy it----Think that we have the money from the horse farm that can be used for this purchase----Anybody got some news??

[LaCajunsFan]

The diocese owns the MOB's along st Mary, but we're long-leased to the hospital. From what I've heard, they count on the rental from the buildings and this has been an issue with selling the property.
As the article says, the money being appropriated would be for the line of credit necessary for the school to buy the property.

[zephyr]

The 5.66 acres with the MOB's on them are what is owned by the diocese. Actually, the land is the only thing owned by the diocese while the buildings would actually be owned by the purchaser and you would pay an annual land lease. I'm not really sure how $4 million will help the university obtain this property as they will never sell for that amount but I'd love to see it happen.

[zephyr]

The diocese owns the MOB's along st Mary, but we're long-leased to the hospital. From what I've heard, they count on the rental from the buildings and this has been an issue with selling the property.
As the article says, the money being appropriated would be for the line of credit necessary for the school to buy the property.

Diocese only owns the land the MOB's are on.

[CajunFan83]

There is a coulee that runs under the middle of the property. The diocese owns from St. Mary to the coulee and Lourdes owns the property from the coulee to St. Julien.

[zephyr]

There is a coulee that runs under the middle of the property. The diocese owns from St. Mary to the coulee and Lourdes owns the property from the coulee to St. Julien.

Correct, and on that land to the coulee is where the MOB buildings are and is just over 6 acres, not 5.66 like the article said. All of this land is owned by the diocese but Lourdes owned the buildings which are under a land lease.

[LaCajunsFan]

Correct, and on that land to the coulee is where the MOB buildings are and is just over 6 acres, not 5.66 like the article said. All of this land is owned by the diocese but Lourdes owned the buildings which are under a land lease.

Correct. And I understood the article to state that the $4 million is to help sure credit for the financing of the purchasing.and for the whole property, not just the for the MOB portion.