Revision: May 2012 HEAL PROJECTS. Source: HEALTH EDUCATION AUTHORITY OF LOUISIANA (HEAL) Project Type: HEAL GARAGE (Original Project) HEAL Revenue Bonds.

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Presentation transcript:

Revision: May 2012 HEAL PROJECTS

Source: HEALTH EDUCATION AUTHORITY OF LOUISIANA (HEAL) Project Type: HEAL GARAGE (Original Project) HEAL Revenue Bonds Issued: $3,300,000 MILLION Period: 1973 (Authorized by Bond Resolution adopted on April 4, 1973). Project Description: Extraction of low cost parking facility for all employees and visitors of the New Orleans Medical Complex. Economic Impact: Methodology - Economic Impact: There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue: City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures: Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 2

Source: TULANE UNIVERSITY MEDICAL CENTER HOSPITAL Project Type: TULANE UNIVERSITY MEDICAL CENTER HOSPITA HEAL Revenue Bonds Issued: $37,500,000 MILLION Period 1975 (Authorized by General Bond Resolution adopted on March 6, 1974). Project Description: Construct Tulane University Medical Center Hospital Economic Impact: Methodology - Economic Impact There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 3

Source: OCHSNER MEDICAL CENTER Project Type: ALTON OCHSNER MEDICAL FOUNDATION HEAL Revenue Bonds Issued: $56,200,000 MILLION Period JANUARY 1976 (Authorized by Trust Indenture dated as of December 1, 1995) Project Description: The Health Education Authority of Louisiana (HEAL) providing funds for an expansion project at Ochsner Medical Center. Economic Impact: Methodology - Economic Impact: There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue: City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures: Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 4

Source: TULANE UNIVERSITY MEDICAL CENTER HOSPITAL Project Type: TULANE UNIVERSITY MEDICAL CENTER HOSPITAL HEAL Revenue Bonds Issued: $31,261, MILLION Period 1985 (Authorized by Trust Indenture dated as of December 1, 1985). Project Description: Tulane University Medical Center Hospital addition. Economic Impact: Methodology - Economic Impact There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 5

Source: POYDRAS HOME Project Type: POYDRAS HOME PROJECT HEAL Revenue Bonds Issued: $5,500,000 MILLION Period: 1995 (Authorized by Trust Indenture dated as of December 1, 1995) Project Description : Poydras Home is a nonprofit retirement community and welcomes all people regardless of race, color, religion, sex or national origin. The community welcomes the involvement of family and volunteers in every aspect of a loved one’s experience at Poydras. Economic Impact: Methodology - Economic Impact There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 6

Source: LAMBETH HOUSE Project Type: LAMBETH HOUSE PROJECT (Original) HEAL Revenue Bonds Issued: $47,395,000 MILLION Period October 1996 Project Description: In 1998, Lambeth House set out to offer the residents of Louisiana an exciting and different choice among New Orleans retirement communities. Lambeth House is New Orleans’ only continuing care retirement community with Life Care that guarantees access to on-site assisted living and nursing care. Economic Impact: Methodology - Economic Impact There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 7

Source: LAMBETH HOUSE Project Type: LAMBETH HOUSE PROJECT HEAL Revenue Bonds Issued: $57,770,000 MILLION Period 1998 Project Description: In 1998, Lambeth House set out to offer the residents of Louisiana an exciting and different choice among New Orleans retirement communities. Lambeth House is New Orleans’ only continuing care retirement community with Life Care that Guarantees access to on-site assisted living and nursing care. Economic Impact: Methodology - Economic Impact There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person 8

Source: HEALTH EDUCATION AUTHORITY OF LOUISIANA (HEAL) Project Type : HEAL Parking Garage (Addition to Project) HEAL Revenue Bonds Issued: $9,350,000 MILLION Period: 1998 (Authorized by Trust Indenture dated as of December 1, 1998). Project Description: Extraction of additional low cost parking within existing facility for all employees and visitors of the New Orleans Medical Complex. Economic Impact: Methodology - Economic Impact: Monthly/Annual expenditure reports track actual economic impact of this project. Tax Revenue: City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment $107, – Paid to the City of New Orleans $98, – Paid to the City of New Orleans Annual occupational License - $1, – Average tax contributions over 30 years = $3,000,000 million dollars Direct Expenditures: Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. Source: Standard Parking Company 9

Source: AMERICAN CANCER SOCIETY Project Type: HOPE LODGE PROJECT HEAL Revenue Bonds Issued: $5,000,000 MILLION Period DECEMBER 2004 (Authorized by Trust Indenture dated as of November 1, 2004) Project Description: American Cancer Society has a place where cancer patients and their Caregivers can find help and hope when home is far away - an American Cancer Society Hope Lodge. Economic Impact: Methodology - Economic Impact There was no specific tracking mechanism in place to actually calculated economic impact of this project. Tax Revenue City and State sales tax paid by the entity in their appropriate percentages; Occupational License tax calculated on revenue generated; State and Federal tax withholdings collected from salaries /wages of construction personnel; Annual property tax; and personal property tax on the value of fixtures, furnishings and equipment. Direct Expenditures Daily spending of visitors who visited exhibition sites, historic tours, music attractions, dined out, and purchased art and antiques. 80% of people who travel are accompanied by at least one other person. 10

Revision: May 2012 THE END