Lakefront Management Authority | Application Preview
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General Information
Business Registration Number: 46-1477471
Location: New Orleans, LA, United States
Length of Operation: 11plus
Number of Employees: 26-50 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $1M to $10M
Open to Loans: NO
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Funding Usage
The New Orleans Lakefront Airport has been in operation since 1934. Lakefront Management Authority has the pleasure of managing this location, in addition to over 6 miles of additional properties. The infrastructure is more than 80 years old, and with that many leaks in our water and sewer lines have erupted. This agency brings in just enough revenue to cover our expenses. The work required to repair/replace our water and sewer lines far exceeds the amount of funding we have. Currently, due to leaks on our properties, we have over $3m in disputed accounts with New Orleans Sewerage and Water Board. Without this funding, LMA will not be able to sustain existing expenses or continue to temporarily solve the leakage. A complete replacement of the existing infrastructure is crucial to our agency's survival.
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Business Plan
Through rate increases on covered boat slips, and shelter rentals. Annual CPI's will be completed for all tenants who reside on our properties. LMA (New Orleans Lakefront Airport) is also looking for additional location agreements which will come from renting unused airplane spots for special events (such as Super Bowl or Final Four), partnership with a rental car company, and additional movie shoots. This location has been a New Orleans tradition since 1934. On February 10, 1934 more than 10,000 visitors from the United States, foreign countries and local New Orleanians attended the dedication of an airport that was to be "the Air Hub of the Americas." In the 1950's, New Orleans Lakefront was designated as a general aviation airport. However, as a part of the National Plan of Integrated Airport Systems, the Airport continued to expand to meet new demands. new runways serve private, corporate, and military, and commercial air carrier aircraft. U.S. Customs and Agriculture is available 24 Hours a day. A new FAA Control Tower was built in 1988. This location and its infrastructure is imperative to the history of New Orleans. Without being able to get the water and sewer infrastructure up to today's standards, the Airport and LMA will lose renters, tenants, and the agency will cease to exist.
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Self Identified Competition
N/A Built at a cost of $4.5 million, the airport had a field measuring 3,000 feet long, thus qualifying for the U.S. Department of Commerce’s highest rating, AA-I. The Lakefront Airport was one of the nation’s most beloved airports during “The Golden Age of Aviation” and attracted well-known historic figures such as Amelia Earhart. Six subdivisions were planned and developed during the following time frames: Lake Vista (West)-1939, Lake Vista (East)-1946, Lakeshore (West)-1951, Lakeshore (East)-1955, Lake Terrace-1953, and Lake Oaks-1960. When the Orleans Levee District sold the lots associated with these subdivisions, purchasers were promised state of the art utility infrastructure, and exceptional community service including uniform application of building restrictions, neighborhood park maintenance, and police protection all to be provided by the Orleans Levee District. The “Inner Yacht Harbor” now known as Orleans Marina was built by the City of New Orleans and in 1960 the city transferred the administration of the Marina to the Orleans Levee District. Since that time, the district has managed the facility which includes 351 slips, parcels for up to 65 Boathouses and 4 marine service facilities. South Shore Harbor Marina was developed in the mid-1980s to complement the Lakefront Airport and the Orleans Levee District’s other Non-Flood Protection assets. It consists of 447 slips ranging in size from 30’ to 80’ as well as 26 covered boat slips along the western edge of the marina.
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