The Lafayette Public Trust Financing Authority held a meeting yesterday and decided that they will work to buy the property at the site of the old Greyhound bus station to use it as a substation for the Lafayette Police Department.

Board Chairman John Arceneaux tells KPEL that the LPTFA approved a resolution to close on the property at 315 Lee Street when they met yesterday.  They look to purchase the property in the near future.

Arceneaux tells KPEL that Lafayette Consolidated Government has expressed interest in working with the Lafayette Public Trust Financing Authority to creat a police substation at that Lee Avenue address.

He says since they approved the resolution to move forward on buying the property, they will now begin their negotiations with Lafayette City Parish Government to make the police substation become a reality.

Arceneaux says the Lafayette Public Trust Financing Authority was able to buy the property for $157,000.