The Quaint Village of Folsom To Get A Face Lift

/in

Folsom is a quaint village located close to the city of New Orleans. Located just 12 miles north of Covington, the village sits among rolling hills and towering pines.
Some streets and homes in the village boundaries need some TLC.

Mayor Lance Willie and the village’s Board of Alderman are producing a plan of action to remedy the rundown conditions of some properties and streets in the area. The Mayor says there are some trailer parks with deteriorated homes with trash piled all around them.

The Mayor believes that the problem stems for the lack of board power to take remedial action. The village’s code of ordinances needs to be revised. Willie will work with village attorney Roy Burns to draft an ordinance pertaining to the issue.

As for cost, Aldorwomen Jill Mathies does not see how Folsom will pay for street repairs since the village does not collect a property tax. The Mayor plans to ask for help for the parish and state officials.

As for now, the board approved a purchase of an excavator for the village maintenance department.

Click here for source of information.

Two St. Tammany Parish Schools To Get New Classrooms

/in

Many of St. Tammany Parish Schools are reporting large increases in enrollment within the past few years. The area is growing and the schools need to have room to accommodate new students. St. Tammany School Board’s Business Affairs & Administrative Committee approved a $14.6 million addition for new classrooms at Mandeville High School and a $13.3 million addition for new classrooms at Madisonville Elementary School.

The money for the projects stems from the $167 million bond issue that was voted in and approved in 2008 for construction cost across the St. Tammany Parish School system. The school board allotted $31.8 million for the addition of new classrooms at the two schools.

At Mandeville High School, Thompson Construction Co. will build a three-story building that will include 40 classrooms. The company will also complete renovations to the gym. The $14.6 million project will take about 2.5 years to complete and will begin this summer.

Madisonville Elementary’s $13.3 million project includes a new two-story building, new gym and an expansion to the existing cafeteria. The project is slated to begin this spring and will take Voelkel McWilliams Construction approximately 2.5 years to complete.

With the surge in enrollment both schools have added modular and portable buildings. Louisiana Department of Education reported that Mandeville High School has the district’s largest student population at 1, 967 and Madisonville Elementary currently has 969 students enrolled. The projects will eliminate a good portion of the modular and portable classroom buildings at each school.

Click here for source information.

Roadwork To Begin In St. Tammany Parish

/in

Those that commute from St. Tammany Parish will be affected by a new project for roadway improvement that started on January 31, 2019. The $1 million dollar project which is part of the $16.4 million capital works budget that will be dedicated to roads and bridges will cover streets in the Covington and Madisonville area.

The road improvement project will include work on Dummyline, Lalanne and Keys road. Work which includes milling, overlaying and repairing will take about 45 days and will span 5 miles of roadway along these three roads.

Detours will take motorists to alternate entrances of Dummyline, Lalanne and Keys road along Louisiana 21 and Louisiana 1077.

“Our primary goal in infrastructure maintenance is to improve the safety and convenience of travel for our residents. Projects like these are an excellent example of taxpayer dollars being invested well,” said Pat Brister, St. Tammany Parish President.

Click here for source information.

Patience Pays Off

/in

The Federal Open Market Committee is taking it slow in determining the future adjustments to the federal fund rates.The Fed’s monetary policy is reacting on the conservative side but the ooutcome will be a positive for the 2019 housing market.

The first month of the year the Committee agreed to hold steady the federal funds top rate at 2.5%. The Federal Open Market Committee is taking a more flexible approach this year according to Fed’s January 2019 statement.

The January 2019 statement concluded that the Fed will “be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes.” This peaceful approach is different from the Fall of 2018 and is more than likely the reaction to the inflation expectations and some of the sluggish economic sectors.

The Fed will look at modifying its ongoing balance sheet reduction which will ultimately lead to higher rates. This decision which will reduce its net holding of Treasury bonds and mortgage-backed securities and will only be implemented if the economic conditions call for this kind of change.

 

Click here for source information.