Parish president touts association with the APC

Published 6:00 am Friday, December 29, 2017

Iberia Parish President M. Larry Richard said Iberia Parish Government’s participation in the Acadiana Planning Commission is paying off in much-needed infrastructure projects. 

“We are faced with some tough economic times, but we are making progress,” Richard said. “One example of progress is the Lewis Street/Admiral Doyle Intersection Project. This project, which has a $2.2 million price tag with a 20 percent total match, will cost the parish approximately $440,000.”

The majority of the project is slated to be funded through Acadiana Planning Commission and the Metropolitan Planning Organization.

Iberia Parish has been a MPO participant since 2015.  The Lewis Street / Admiral Doyle Intersection Project and a planned roundabout at Louisiana 675 will result in the parish receiving $4.8 million in infrastructure investment, Richard said.

“These projects have been planned for years, and since taking office this administration has been focused on moving them forward,” Richard said. “We will report on progress related to both projects in the future, but at this point we will focus on the Lewis Street at Admiral Doyle Intersection project.”

The current timeline has the widening project getting an assigned project number in March of 2018. An agreement between the executed entity and the state of Louisiana should occur in September of 2018, followed by a categorical inclusion study in 2019. 

Design plans will follow in January 2020, followed with a right of way acquisition in July of 2021. Construction is projected to start in February of 2022. 

“This partnership with the Acadiana Planning Commission will save Iberia Parish $1.76 million on this project alone,” Richard said. “We are pleased to have a plan in place that will not only save the parish money but also move a project forward that has been dormant for a long time.”

• Richard also wanted to take a moment to clarify a decision made Wednesday night by the Iberia Parish Council making adjustments to the $1.8 million to the IPG General Fund by the Acadiana Fairgrounds Commission. The decision was based on a recommendation from parish administration. 

“First of all, we are not forgiving the loan,” Richard said. “The reason that this item came up is simply a matter of accounting. We will provide good, accurate accounting and reporting.”

“The $1.8 million dollars was loaned to the AFC several years ago, and they have not been able to repay the debt to the IPG General Fund. We cannot continue to show this money on our balance sheets because it is misleading,” he said. “Although we are removing it from the balance sheet for the General Fund, we are in no way forgiving the loan. It will simply be shown elsewhere as a negative number and not as a receivable.”

Richard pointed to the wording of the adopted resolution, which says the resolution is not to be construed “as a renunciation by Iberia Parish Government of its rights to seek the recovery of the loan receivables of the Acadiana Fairground Commission.” It also says those receivables can be collected from future net revenues produced from the operations of the facility or by its liquidation. 

“Nothing could be clearer,” Richard said. “One may ask why such action is necessary. The answer is simple. When Iberia Parish Government presents its financial statements each year to its independent auditors we are certifying that those financial statements are prepared in accordance with generally accepted accounting practices, are a fair representation of the financial condition of the Parish and are free from material misstatements.”

“The loan to Acadiana Fairgrounds Commission for the construction of the Cajun RVera facility was made several years ago. The Commission has been unable to pay the bonded indebtedness due from the construction of the Cajun RVera facility, or make any payments toward the loans made by Iberia Parish Government for 1.8 million. Because the Acadiana Fairgrounds Commission has been unable to make any payments toward this loan, continuing to show it as a receivable from the Acadiana Fairgrounds Commission would result in a misleading overstatement of the monies available for expenditure in the General and Royalty Funds. Such an overstatement could have a negative effect upon the Parish’s bond rating and grant opportunities.”

Richard also said IPG has received “clean audits” for a number of years, which indicates that the auditors believe the financial statements for the parish accurately reflect its actual condition. 

“The recent action of the Council at the recommendation of the administration presents a true, accurate and fair representation of the financial condition of Iberia Parish Government and will allow the Parish to remain in good standing with our auditors, credit rating agencies, bonding authorities and granting agencies,” he said.

• Richard said work is expected to begin soon on the Phase I renovations to the New Iberia Veterans Memorial Building in City Park. Contracts have been awarded to Kerne Construction Inc. and Tilden A. Bonin Contractor Inc. The project includes interior and exterior painting, staining and resealing, exterior pressure cleaning, and roof repair. Upon completion, the building’s overall appearance will be restored to its original condition, design and function. 

“This facility is highly utilized by the citizens of our parish and I am excited to see these improvements being made,” Richard said.