Capital Funding Projects
CAFA offers financing for qualified economic and commercial development projects that benefit communities and neighborhoods in the Capital Area Parishes. Qualified projects include new construction, renovation, public works projects, water and wastewater infrastructure, industrial facility development, civic center/social services facilities, historic preservation, hospitals, healthcare facilities and nursing homes.
To qualify for a financing, the project must create or retain jobs for employees and meet at least one of the following criteria:
- The project is located in a rural area where the majority of household incomes are at or below 115 percent of the area median income (AMI).
- The project is located in an urban area where the majority of household incomes are at or below 100 percent AMI.
- At least 51 percent of the project's employees have incomes that are at or below 80 percent of the AMI.
- At least 51 percent of the families who will benefit from the project have incomes at or below 80 percent of the AMI.
A project will also meet geographical qualification if it is located in one of the following targeted areas:
- Native American Area
- Federal approved state disaster area
- Brownfield Tax Credit, an area eligible for a Federal Brownfield Tax Credit
- An area impacted by a military base closing
- Designated communities affected by NAFTA