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Studio gets preliminary OK on bonds

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Posted: Jan 15, 2010 6:04 AM by Andrea Fontenot
Source: Associated Press

  Rating: 4.0 (1 vote)

Topics: film, movie, studio, Red Stick Studio, money, bonds, Louisiana

A Baton Rouge film studio project has won preliminary approval for $265 million in bonds.

The Louisiana Public Facilities Authority board gave preliminary approval to the Red Stick Studio Development LLC project this week.

The approval is the first in a four-step process.

Red Stick also has won judgments from two state courts allowing the company years to collect 40 percent studio infrastructure tax credits from the state on an eventual $665 million project.

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