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Nonprofit developing former university horse farm into public park missed pre-lease deadline

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LAFAYETTE, Louisiana — The nonprofit developing the former university horse farm into a public park missed a pre-lease deadline and won't start construction on time.

In an exchange/sale, the city of Lafayette obtained the former horse farm from the University of Louisiana at Lafayette to preserve the 100-acre green space from development.

On July 26, 2013, the city and Lafayette Central Park Inc., a nonprofit corporation created to raise money and turn the farm into a public park, signed a cooperative endeavor agreement. The agreement outlines conditions that must be met before the lease actually kicks in and construction can start.

The city-parish attorney tells The Advertiser (http://bit.ly/1Df3u6O ) the nonprofit was supposed to have completed the pre-lease conditions by July 26, 2014, but did not. That deadline has been extended to Jan. 26.


Information from: The Advertiser, http://www.theadvertiser.com

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