On behalf of our community, I am very pleased to announce the formation of Eagle Athletic Facilities, L3C (EAF L3C).
Our mission is to build first class athletic facilities at Shaw High School for the benefit of the students of Shaw, Academy of our Lady and the other Catholic schools on the West Bank. Our vision is build out the facilities in phases with the multi-use stadium first, then building and improving other facilities necessary to accomplish our Mission. Our goal is to manage these facilities in a way that will produce maximum profits to help reduce the cost of a Shaw education.
Following is a brief history and explanation of how and why we founded Eagle Athletic Facilities L3C (EAF L3C). An L3C is a hybrid legal entity that operates between a for profit and a non-profit. It must have a social mission as its main purpose, but allows for profits to be made for those who invest in the Mission. After years of trying to get the stadium built, it was determined that we needed a new approach, so we retained Bob Lang the creator of the L3C to help us set this up. We determined by this expert’s help that an L3C would work for this project. Then we decided that our mission would be to create profits that would mitigate the cost of Catholic education at Shaw. The next step before we put too much resources into this venture was to meet with Archbishop Aymond and his council. Fr. Lou and I met and received their blessing to explore the concept further. In rather quick order, we met with their lawyers, discussed the parameters of a lease and now have an executed a 30year lease between the Archdiocese of New Orleans and EAF L3C.
While the lease was being worked out, a dedicated group of parents, staff and alumni came together to build a business plan that would prove that this venture will accomplish the Mission. So that brings us to how this works. With a lease in hand that requires no monetary payment, we have a business that can concentrate on using this gift to create returns on investment for the Mission and our investors. It also allows us to run the facilities as a business.
We will seek all opportunities to generate profits while staying within our mandate to provide first class athletic facilities for Catholic schools in our area. Along with football, we will support other sports like soccer, lacrosse and rugby and other activities like concerts and youth rallies. Our business plan tells us that even after paying out a fair return to investors, we will be able to create a profit that will be turned over to Shaw for operating expenses. While we remain very optimistic we need the support of all of you, either as an investor, donor or volunteer to make this work. The investment of your time, talent or treasure will pay big dividends for our Mission. The EAF L3C allows us to be creative and find other ways to use these facilities to create more profit, so if you have an idea, please share it with us.
This page is a brief overview of the Archbishop Shaw Stadium project. Below are architectural renderings as well as a brief description of the project. If you would like to find out more please join our email list. If you would like to contribute please click the link below.
Archbishop Shaw Alumni Association © 2016