摘要: |
Nine months ago, the board of commissioners of the Port of South Louisiana (PortSL) made waves by voting to approve an agreement for the port to purchase the former site of Avondale Shipyard, now marketed as Avondale Global Gateway, from T. Parker Host for $445 million. Host bought the site from Hunting-ton Ingalls in 2018 for $60 million and has reportedly invested close to $100 million to return Avondale to commerce. In the months since, the port has engaged in a "due diligence" process to evaluate the original price, outline a basic plan for the site and formulate revenue projections for Avondale. Taken togeth-er, that effort would provide the basis for selling revenue bonds to finance the deal. Port officials went public with the results of that due diligence period last month when they announced to port commissioners a newly-agreed-to purchase price of $330 million. Of that total, the port intends to raise $280 million through a bond sale, with the remaining $50 million coming through a note from T. Parker Host. |