Louisiana Public Facilities Authority

What Louisiana Public Facilities Authority does

The Louisiana Public Facilities Authority (LPFA) is a statewide public trust and public corporation established in 1974 and headquartered in Baton Rouge, Louisiana. It operates exclusively as a conduit issuer of tax-exempt and taxable private activity bonds on behalf of qualifying borrowers — including educational institutions, non-profit hospitals, manufacturing facilities, charter schools, and government entities. LPFA does not lend its own credit; bonds are payable solely by the underlying borrower, and the authority's role is to provide access to tax-exempt capital markets that would otherwise be unavailable to these entities. Over its 50-year history, LPFA has facilitated over $31.2B in bond issuance across 878 projects, generating an estimated 400,000+ construction and permanent jobs in Louisiana.

LPFA's product portfolio spans Tax-Exempt Revenue Bonds, Taxable Revenue Bonds, Qualified Small Issue Manufacturing Bonds (up to $10M per issue), Qualified Non-Profit 501(c)(3) Bonds, Private Activity/Industrial Development Bonds, and Equipment and Capital Facilities Pooled Loans. Complementary programs include the Low-Interest Local Government Bond Bank Program (serving 373 governmental entities) and the Rural Development Low Interest Loan Program. Through its wholly-owned education subsidiary Lela (Louisiana Education Loan Authority, established 1984), LPFA provides student loans, refinancing via RefiHELP, and free college planning services to 400,000+ students and parents.

LPFA generates no traditional commercial revenue — it is a pass-through conduit that facilitates bond issuance between borrowers and capital markets investors. It is governed by a seven-member Board of Trustees, with Patricia A. Dubroc serving as President and CEO. The authority has no parent company and is funded through statutory fees on issuances rather than equity capital; it does not seek to maximize profit. Its strategic priorities are codified in state legislation and center on furthering education, healthcare, economic development, and job creation throughout Louisiana.

Name

Louisiana Public Facilities Authority

Legal name

Louisiana Public Facilities Authority

Website

https://lpfa.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

11–50 employees

Short description

The Louisiana Public Facilities Authority (LPFA) is a Louisiana state-chartered public trust that issues conduit tax-exempt and taxable bonds on behalf of qualifying borrowers. It serves educational institutions, non-profit hospitals, manufacturers, charter schools, and government entities, and also operates the Lela student loan program, facilitating over $31.2B in bonds across 878 projects since 1974.

Ownership category

akta.pro rank

Product category

Municipal Bond Issuance

akta.pro primary industry

State & Local Housing Finance Agencies (HFAs) (FSALAKAA)

Keywords

• Conduit bond issuance
• Tax-exempt financing
• Public finance authority
• Industrial development bonds
• Municipal bond issuer

Headquarters

HQ city

Baton Rouge

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Bond Issuance Services: LPFA serves as a conduit issuer of tax-exempt and taxable bonds for Louisiana projects. The authority facilitates bond issuance on behalf of qualifying entities, enabling them to access tax-exempt financing and achieve interest cost savings. LPFA passes payments from borrowers to bondholders and does not enhance its own credit.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The Louisiana Public Facilities Authority (LPFA) is a statewide public trust that acts as a conduit issuer of tax-exempt and taxable bonds on behalf of qualifying education, healthcare, economic development, and infrastructure projects in Louisiana. The authority enables borrowers to access lower-cost capital through tax-exempt private activity bonds and offers complementary programs including student loans (Lela), refinancing, and low-interest local government bond bank lending. Bonds are payable solely by the underlying borrower, with no LPFA funds or credit at risk.

Product overview

Louisiana Public Facilities Authority operates as a conduit bond issuer offering a comprehensive portfolio of tax-exempt and taxable bond products. The core offerings include Tax-Exempt Revenue Bonds, Taxable Revenue Bonds, Qualified Small Issue Manufacturing Bonds, Qualified Non-Profit 501(c)(3) Bonds, Private Activity/Industrial Development Bonds, and Equipment and Capital Facilities Pooled Loans. LPFA's education division operates under the Lela (Louisiana Education Loan Authority) brand, providing student loans and college planning resources, including the Lela RefiHELP refinancing program. Additional programs include the Rural Development Low Interest Loan Program and Low Interest Local Government Bond Bank Program. The organization serves nonprofits, governmental hospitals, healthcare facilities, educational institutions, and local governments across Louisiana.

Differentiator

Problem solved

Functional benefit

Products and services

• Tax-Exempt Revenue Bonds Tax-exempt private activity bonds issued by LPFA to finance qualified manufacturing facilities, certain exempt facilities, and non-profit 501(c)(3) facilities, enabling borrowers to achieve substantial interest cost savings through tax-exempt financing.
• Taxable Revenue Bonds Private activity bonds whose interest is not excludable from federal income taxation, issued to finance every type of project financeable with tax-exempt bonds plus additional economic development facilities, with fewer restrictions than tax-exempt bonds.
• Qualified Small Issue Manufacturing Bonds Bonds with principal amounts not exceeding $10,000,000 for facilities used in manufacturing or production of tangible personal property, subject to capital expenditure limitations and renovation requirements.
• Qualified Non-Profit 501(c)(3) Bonds Bonds for projects owned by 501(c)(3) corporations where at least 95% of facilities are used by such corporations in conjunction with their tax-exempt mission.
• LPFA Private Activity/Industrial Development Bonds Bonds issued to finance manufacturing facilities, multifamily housing, airports, sewage waste facilities, mass commuting facilities, environmental enhancements, nonprofit hospitals, colleges and universities, and assisted living facilities.
• Equipment and Capital Facilities Pooled Loans Program joining entities together in shared borrowing for construction of capital facilities, benefiting nonprofits, governmental hospitals, healthcare facilities and educational institutions through lower costs of issuance and lower interest rates.
• Lela (Louisiana Education Loan Authority) Student Loan Program LPFA's education division operating under the Louisiana Education Loan Authority name, providing student loans and free college planning resources to students and parents in Louisiana.
• Lela RefiHELP Student loan refinancing program launched by Lela to ease debt burden for Louisiana college graduates, providing opportunities to save more than $250 million throughout repayment.
• Rural Development Low Interest Loan Program Program providing local governments and non-profits with interim financing for capital and infrastructure projects until permanent financing from USDA's Rural Development Program is received, with LPFA covering 40% at half the local bank's interest rate; saved borrowers more than $800,000 in future interest costs.
• Low Interest Local Government Bond Bank Program Program saving local governments money by providing up to 25% of financing at a reduced interest rate, with LPFA covering the remaining 25% at half the local bank's interest rate; saved local governments more than $2.73 million in future interest.

Quantifiable outcome

• $250M+ borrower savings through Lela student loan programs
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and major.

• Calcasieu Bridge PartnerscoreStrategic or Co-development Partner · 1 August 2024LPFA partnered with Calcasieu Bridge Partners LLC as part of a public-private partnership for the $1.33 billion I-10 Calcasieu River Bridge replacement project. LPFA issued tax-exempt private activity bonds for the project, which was a collaboration between Louisiana Department of Transportation and Development and international investors.
• Lela (Louisiana Education Loan Authority)coreStrategic or Co-development PartnerLela is the education division of LPFA, established in 1984 to make higher education more accessible and affordable. Lela provides student loans, refinancing programs (RefiHELP), and free college planning resources through the College Planning Center in Baton Rouge.
• Louisiana Department of Economic DevelopmentmajorStrategic or Co-development PartnerLPFA serves as a support player to the Louisiana Department of Economic Development, working with regional and local economic development groups to enhance their efforts through bond financing programs.
• Business Incubators (Baton Rouge, Shreveport, Carencro, New Orleans)majorStrategic or Co-development PartnerLPFA helped establish business incubator concept in Louisiana. These incubators provide new business ventures with space, facilities, shared services and expertise. 325 businesses have graduated from incubators and over 243 are still in business generating over 5,000 jobs.
• Louisiana Business and Technology Center (LBTC)majorStrategic or Co-development PartnerLPFA has assisted over 1,000 new businesses outside of incubators, including the Louisiana Business and Technology Center, Enterprise Center of Louisiana, and other business development organizations.
• Ochsner Clinic FoundationmajorOthersLPFA issued $514,435,000 in revenue bonds (Series 2025A and 2025B) for Ochsner Medical Center improvements including children's tower, neuroscience building, parking garage, cancer center, and various hospital facilities throughout Louisiana.
• Pennington Biomedical Research CentercoreStrategic or Co-development PartnerLPFA's connection to Pennington spans 38 years and more than $91.3 million in financing. LPFA Board of Trustees approved appointment of Dr. Corby K. Martin as the LPFA Endowed Chair in Nutrition at the center.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• New Jersey Economic Development Authority (NJEDA): New Jersey state economic development authority that issues conduit bonds alongside direct financing programs for education, healthcare, and infrastructure. Comparable to LPFA as a state-level conduit issuer with overlapping customer segments.
• Texas Public Finance Authority: Texas state public finance authority that issues bonds for state and eligible non-profit projects. Directly comparable to LPFA as a similarly structured state conduit bond issuer serving public-purpose financings within a single state.
• Massachusetts Development Finance Agency (MassDevelopment): Massachusetts quasi-public development finance authority issuing tax-exempt bonds for nonprofits, healthcare, education, and economic development. Comparable to LPFA in mission, bond-issuance product mix, and economic-development remit.
• Missouri Development Finance Board: Missouri state development finance board issuing bonds for infrastructure, industry, and community facilities. Comparable to LPFA in serving a single state with bond-issuance authority for economic development and infrastructure projects.
• California Infrastructure and Economic Development Bank (IBank): California state infrastructure finance bank issuing bonds for public infrastructure and economic development. Comparable to LPFA's PPP-style infrastructure work, particularly the I-10 Calcasieu Bridge transaction.
• New York City Industrial Development Agency (NYC IDA): Municipal conduit bond issuer for industrial, commercial, and not-for-profit facilities in NYC. Comparable to LPFA in structure as a sub-state conduit issuer for 501(c)(3) and private activity bond financings.
• Florida Development Finance Corporation (FDFC): Florida conduit bond issuer for nonprofit and economic development projects. Comparable to LPFA in product mix (501(c)(3), education, healthcare bonds) and conduit-only operating model.

Regional players

• Connecticut Green Bank: Connecticut state green bank issuing bonds and providing financing for clean energy projects. Comparable to LPFA as a state-chartered public financing entity, though focused on a narrower asset class (energy efficiency and renewables).
• Industrial Development Authority of the City of Phoenix: Municipal conduit bond issuer for the City of Phoenix. Comparable to LPFA in product mix (conduit bonds for nonprofits and commercial facilities) but operates at city rather than state scale and in a different geography.

Broad incumbents

• Colorado Housing and Finance Authority (CHFA): Colorado state housing and finance authority issuing bonds for affordable housing, education, and economic development. Comparable to LPFA as a state public trust with housing-focused bond authority, though CHFA's scope is more housing-tilted.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/lpfa1

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Louisiana Public Facilities Authority